By Seun Ibiyemi
President Bola Tinubu on Friday inaugurated an 11-member committee to facilitate the incorporation of the proposed Grid Asset Management Company Ltd. (GAMCO) as part of efforts to strengthen Nigeria’s electricity transmission and grid management system.
The inauguration took place at the State House in Abuja following the approval of the company’s establishment by the Federal Executive Council at its meeting on Wednesday.
The initiative is aimed at addressing persistent challenges of stranded electricity generation, grid management and transmission within Nigeria’s power sector.
The Federal Government projects that the proposed company will recover at least 1,600 megawatts of stranded power within the next 18 to 24 months.
The Chief of Staff to the President, Femi Gbajabiamila, performed the inauguration on behalf of the President and will serve as chairman of the committee.
Read also:Epileptic power: Tinubu moves to establish Grid Asset Management Company
Other members of the committee include the Attorney-General of the Federation, the Ministers of Power, Works and Finance, as well as the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Also serving on the committee are the Chairman of the Nigeria Revenue Service and energy expert Yemi Oke. The Permanent Secretary, Cabinet Affairs Office, John Chidiebere Ezeamama, will serve as secretary of the committee.
Speaking during the inauguration, Gbajabiamila described the proposed company as a major step toward repositioning Nigeria’s electricity sector.
“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all-important power sector,” he said.
According to him, the committee will conduct a comprehensive review of existing laws, regulations, policies and institutional frameworks governing Nigeria’s electricity value chain, including generation, transmission, distribution and market operations.
He explained that the review would also examine the implications of the Electricity Reform Laws 2025 and related unbundling arrangements on asset ownership, management and regulatory oversight.
Gbajabiamila said the committee would identify areas of conflict or inconsistency between the proposed GAMCO framework and existing legal and regulatory instruments.
He added that members would assess the legal status and contractual obligations of assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project, including the Omotosho, Olorunsogo and Ihovbor power plants, which are expected to serve as the pilot phase for the new company.
The committee will also examine the operational relationship between GAMCO and the Nigerian Electricity Regulatory Commission, as well as determine the fiscal, financial and market implications of the proposal, including subsidy exposure, market liquidity and revenue frameworks.
In addition, the initiative will focus on optimising electricity evacuation along the Benin–Lagos transmission corridor, a key axis supplying power to major industrial centres.
The pilot phase is expected to improve output from the Omotosho, Olorunsogo and Ihovbor power plants, which have a combined installed capacity exceeding 1,700 megawatts.
