Tinubu Sets Up Committee to Drive Grid Asset Management Company for Power Sector Reform
President Bola Ahmed Tinubu has inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at improving Nigeria’s electricity transmission and addressing persistent power sector challenges.
The committee was constituted on Friday following the approval by the Federal Executive Council earlier in the week for the creation of the company.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of the President, described the proposed company as a transformative step toward strengthening Nigeria’s power infrastructure, particularly the transmission grid.
According to him, GAMCO is expected to help optimise electricity generation and address long-standing issues related to grid management and stranded power capacity.
Gbajabiamila urged members of the committee to align with the administration’s vision and strictly follow their mandate in order to achieve the objectives of the initiative.
He explained that the committee will undertake a detailed review of existing laws, policies, and regulatory frameworks guiding Nigeria’s electricity value chain, including generation, transmission, distribution, and market operations.
Part of its assignment will be to examine the implications of the Electricity Reform Laws of 2025, especially with regard to asset ownership, management structures, and regulatory oversight within the power sector.
The committee will also study the legal status and operational arrangements of assets under the Niger Delta Power Holding Company and the National Integrated Power Project, particularly the Omotosho, Olorunshogo, and Ihovbor power plants, which are expected to serve as the pilot phase for GAMCO.
In addition, the panel will assess the interface between the proposed company and the Nigerian Electricity Regulatory Commission, as well as evaluate the financial, fiscal, and market implications of the initiative, including subsidy exposure, revenue structures, and market liquidity.
The Chief of Staff chairs the committee, with members including the Attorney-General of the Federation, the Ministers of Power, Works and Finance, as well as ministers overseeing Communications and Digital Economy, Science and Technology, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Other members include the Chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke, while the Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, will serve as secretary.
GAMCO is designed to recover stranded power generation and improve transmission efficiency, with the Benin-Lagos corridor selected as the pilot area.
The project will focus on optimising power generation from three National Integrated Power Plants — Omotosho with an installed capacity of 513 megawatts, Olorunshogo with 754 megawatts, and Ihovbor with 508 megawatts.
Through the pilot phase, the new company aims to recover at least 1,600 megawatts of electricity within 18 to 24 months, while also developing a new high-capacity 330kV double-circuit transmission line along the corridor.
The Federal Government will fully own GAMCO as a commercial entity through the Ministry of Finance Incorporated.
Officials say the initiative is expected to unlock underutilised power generation assets, improve electricity reliability, and support industrial growth, particularly in Lagos and Ogun states, which serve as major commercial and industrial hubs.
According to the presidency, the success of the pilot project could provide a scalable model for expanding grid optimisation and transmission development across other parts of the country, in line with the administration’s Renewed Hope Agenda.
