President Bola Tinubu has inaugurated an 11-member high-powered committee to ensure the smooth and effective incorporation of the Grid Asset Management Company Limited (GAMCO), a new entity aimed at addressing chronic challenges in Nigeria’s power sector.
The inauguration, performed on behalf of the President by Chief of Staff to the President Hon. Femi Gbajabiamila, came just 48 hours after the Federal Executive Council (FEC) approved the establishment of GAMCO at its first meeting of 2026.
The committee is chaired by Gbajabiamila and includes the Attorney General of the Federation and Minister of Justice, as well as the Ministers of Power, Works, Finance, Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum. Also on the committee are the Chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke. The Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, serves as secretary.
Gbajabiamila described the proposed GAMCO as one of the “revolutionary steps” taken by the Tinubu administration to transform the power sector, particularly in generation, grid management, and transmission. He urged members to align with the President’s vision and strictly adhere to the committee’s mandate.
The committee’s key responsibilities include:
– Conducting a comprehensive review of existing laws, regulations, policies, and institutional frameworks across the electricity value chain (generation, transmission, distribution, and market operations).
– Examining the implications of the Electricity Reform Laws (2025) and unbundling arrangements on asset ownership, management, and regulatory oversight.
– Identifying conflicts, overlaps, or inconsistencies between the GAMCO framework and current legal/regulatory instruments.
– Assessing the legal status, ownership structure, and contractual obligations of Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho (513 MW), Olorunsogo (754 MW), and Ihovbor (508 MW) plants selected for the pilot phase.
– Evaluating the interface between GAMCO’s proposed mandate and the functions of the Nigerian Electricity Regulatory Commission.
– Determining fiscal, financial, and market implications, including subsidy exposure, market liquidity, and revenue frameworks.
– Advising on whether the establishment and operation of GAMCO require amendments to primary legislation, subsidy regulations, or executive directives.
GAMCO is designed as a fully government-owned commercial venture, with shares held by the Ministry of Finance Incorporated. It aims to recover and optimize stranded power generation capacity, starting with a pilot along the Benin-Lagos transmission corridor—the critical route supplying bulk power to Ogun and Lagos states, Nigeria’s largest industrial and commercial hubs.
In the pilot phase, GAMCO will focus on unlocking at least 1,600 MW within 18–24 months from the three selected NIPP plants, while developing a new high-capacity 330kV+ double-circuit transmission line along the same corridor.
The Niger Delta Power Holding Company will grant GAMCO concession and lease arrangements for the plants, while the Transmission Company of Nigeria (TCN) will provide rights to develop, finance, and operate the new transmission infrastructure.
The initiative seeks to address longstanding issues of operational inefficiencies, transmission bottlenecks, and under-optimized public investment in NIPP assets. By mobilizing private capital, enforcing disciplined asset management, and modernizing evacuation infrastructure, GAMCO is expected to improve electricity reliability, boost industrial productivity, safeguard jobs, enhance investor confidence, and deliver better welfare outcomes for Nigerian households—aligning with the Renewed Hope Agenda.
The committee’s work is seen as a critical step toward fast-tracking solutions to Nigeria’s endemic power challenges and positioning the sector for sustainable growth and national competitiveness.
