President Bola Tinubu has established an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO), an initiative aimed at solving ongoing challenges in Nigeria's electricity transmission and grid management system.
The committee was inaugurated on Friday, just two days after the Federal Executive Council (FEC) sanctioned the formation of the company during its first meeting in 2026.
Leading the committee is Hon. Femi Gbajabiamila, who serves as the Chief of Staff to the President. Also included are key members such as the Attorney- General of the Federation and Minister of Justice, along with the Ministers of Power, Works, and Finance.
Additional committee members feature the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, as well as the Minister of State for Petroleum.
Supporting the committee will be the Chairman of the Nigeria Revenue Service, alongside energy specialist Professor Yemi Oke. The secretary of the committee is designated as Dr. John Chidiebere Ezeamama, who is the Permanent Secretary of the Cabinet Affairs Office.
This committee’s establishment is part of the Federal Executive Council's endorsement of President Tinubu's proposal to create GAMCO as a segment of comprehensive reforms in the electricity sector.
President Tinubu aims for a swift resolution to enduring issues such as stranded power generation and inefficiencies in grid management and transmission within the electricity sector.
During the inauguration event, Gbajabiamila articulated that this initiative represents a significant reform endeavor to modernize Nigeria's power infrastructure.
He outlined that the committee is tasked with conducting an extensive review of current laws, regulations, policies, and institutional frameworks that govern Nigeria's electricity value chain.
The review will encompass aspects like generation, transmission, distribution, and market operations, while also taking into account the implications of the Electricity Reform Laws (2025) and related unbundling strategies on asset ownership, management, and regulatory oversight.
The committee is expected to pinpoint areas of conflict or inconsistency between the GAMCO framework and existing legal and regulatory frameworks.
It will further investigate the legal and contractual status of assets owned by the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP), which includes the Omotosho, Olorunsogo, and Ihovbor power plants that are slated to feature in the initial phase of the project.
Moreover, it will assess the relationship between GAMCO's operations and the responsibilities of the Nigerian Electricity Regulatory Commission (NERC), ensuring that both entities are well-coordinated.
The committee will also analyze the financial, fiscal, and market implications of this proposal, addressing topics related to subsidies, market fluidity, and revenue frameworks.
Further evaluation will include whether the creation and operation of GAMCO necessitate amendments to current legislation, subsidy regulations, or executive directives.
GAMCO is set to recover and enhance stranded power generation capacities, starting with the Benin–Lagos transmission corridor in its initial phase.
This corridor is critical as it supplies significant electricity to Ogun and Lagos states, known as two of Nigeria’s primary industrial and commercial centres.
The pilot project will focus on optimizing power production from the Omotosho, Olorunsogo, and Ihovbor plants within the National Integrated Power Project, which together provide substantial electricity output: 513 megawatts from Omotosho, 754 megawatts from Olorunsogo, and 508 megawatts from Ihovbor.
GAMCO aims to recover at least 1,600 megawatts of electricity within a timeframe of 18 to 24 months, alongside the development of a new 330KV double- circuit transmission line along the same corridor.
The Federal Government will fully own this company as a commercial entity, with shares managed by the Ministry of Finance Incorporated.
Officials anticipate that this initiative will enhance the reliability of electricity service, boost industrial productivity, protect jobs, and foster investor confidence in Nigeria's power sector.
If proven successful, this model could potentially be expanded to other power plants and transmission corridors as part of a long-term plan to stabilize and grow the national grid.
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