President Bola Tinubu has constituted an 11-member committee to oversee the smooth incorporation of the Grid Asset Management Company Limited (GAMCO), following the Federal Executive Council’s approval of the company earlier this week.
The establishment of GAMCO is aimed at fast-tracking solutions to Nigeria’s persistent electricity sector challenges, including stranded power, grid management, and transmission bottlenecks. The initiative represents a key reform step in President Tinubu’s drive to modernize the nation’s power infrastructure.
Speaking on behalf of the President, the Chief of Staff, Femi Gbajabiamila, described the committee as critical to realizing the administration’s ambitions for the power sector.
Gbajabiamila urged members to align with the President’s vision and adhere strictly to the committee’s mandate.
The committee is tasked with conducting a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing Nigeria’s electricity value chain, including generation, transmission, distribution, and market operations.
It will also examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management, and regulatory oversight, identifying areas of conflict, overlap, or inconsistency with the proposed GAMCO framework.
The committee will further assess the legal status, ownership structure, and contractual obligations of assets under the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP), including the Omotosho, Olorunshogo, and Ihovbor plants, which will serve as GAMCO’s pilot phase.
Additionally, it will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, while considering fiscal, financial, and market implications such as subsidy exposure, market liquidity, and revenue frameworks.
The committee will also determine if establishing and operationalising GAMCO requires amendments to primary legislation, subsidy regulations, or executive directives.
The Chief of Staff serves as the committee chairman, with the Attorney-General of the Federation and Minister of Justice, as well as the Ministers of Power, Works, and Finance as members.
GAMCO aims to recover and optimise stranded power generation, beginning with the Benin-Lagos transmission corridor as a pilot.
The initiative is expected to enhance electricity reliability and national competitiveness through disciplined asset management and mobilisation of private capital.
The Federal Government will fully own GAMCO as a commercial venture, with shares held by the Ministry of Finance Incorporated.
