President Bola Tinubu has constituted an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO), an initiative aimed at addressing persistent challenges in Nigeria’s power transmission network.
The committee was inaugurated on Friday at the State House in Abuja by the President’s Chief of Staff, Femi Gbajabiamila, who described the creation of GAMCO as a major reform step in the country’s electricity sector.
He said the initiative was designed to optimise power generation and strengthen the national grid and transmission system.
The development comes about 48 hours after the Federal Executive Council approved the establishment of the new company following a memo presented by the President.
According to the Minister of Information and National Orientation, Mohammed Idris, the move is intended to tackle long-standing transmission bottlenecks, widely regarded as the weakest link in Nigeria’s electricity value chain.
Members of the committee include the Attorney-General of the Federation, the Ministers of Power, Works, and Finance, as well as those in charge of Communications and Digital Economy, Science and Technology, Aviation and Aerospace Development, and the Minister of State for Petroleum.
The Chairman of the Federal Inland Revenue Service and energy expert Yemi Oke are also part of the panel.
The committee is expected to review existing laws, policies, and institutional frameworks governing the electricity sector and assess the legal status and ownership structure of assets under the Niger Delta Power Holding Company and the National Integrated Power Project.
As part of its mandate, the panel will also examine regulatory and financial implications of the proposed company and determine whether legislative amendments will be required for its establishment and operation.
GAMCO is expected to unlock stranded power from key National Integrated Power Project plants, including Omotosho, Olorunsogo, and Ihovbor, as part of a pilot project along the Benin-Lagos transmission corridor.
The initiative aims to optimise power delivery and improve electricity supply to major industrial centres such as Lagos and Ogun states.
Nigeria’s power sector has long been plagued by transmission constraints and grid instability, which have limited the amount of electricity delivered to consumers despite the country’s higher installed generation capacity.
