By SUNDAY ABBA, Abuja
As part of efforts by the federal government (FG) of Nigeria to strengthen her power sector and improve electricity supply,
President Bola Ahmed Tinubu has inaugurated an 11 member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO).
The committee was inaugurated on Friday by the Chief of Staff to the President, Femi Gbajabiamila, at the State House in Abuja on behalf of the President.
The formation of the committee followed the approval of the Federal Executive Council (FEC) during its Wednesday meeting for the creation of GAMCO, a company designed to address major challenges affecting power generation, grid management, and electricity transmission in the country.
Speaking during the inauguration, Gbajabiamila described the initiative as a major step by the Tinubu administration to reform the power sector.
He said the committee would play a key role in ensuring the successful establishment of the company and in achieving the President’s vision of improving electricity supply across Nigeria.
According to him, the committee will review existing laws, policies, and regulations guiding Nigeria’s electricity industry, including generation, transmission, distribution, and market operations.
He added that the members will also study the implications of the Electricity Reform Laws on asset ownership, management, and regulatory oversight in the sector.
The committee is expected to assess the legal status and ownership structure of assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project, including major power plants such as Omotosho, Olorunsogo, and Ihovbor.
These power plants are expected to serve as the pilot phase for GAMCO’s operations.
The committee will also evaluate how GAMCO’s responsibilities will align with the regulatory functions of the Nigerian Electricity Regulatory Commission and examine the financial and market implications of the project.
Gbajabiamila, who chairs the committee, will work alongside key government officials including the Attorney-General of the Federation, as well as the Ministers of Power, Works, Finance, Communications and Digital Economy, Science and Technology, Aviation, and the Minister of State for Petroleum.
Others include the Chairman of the Nigeria Revenue Service and energy expert Yemi Oke. The Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, will serve as secretary of the committee.
GAMCO is expected to focus on recovering stranded electricity generation and improving transmission capacity along the Benin–Lagos corridor, which supplies power to major industrial centres in Ogun and Lagos states.
The pilot phase will target the optimisation of power output from the Omotosho, Olorunsogo, and Ihovbor power plants, with a combined installed capacity of over 1,700 megawatts.
Government projections show that the company could recover at least 1,600 megawatts of electricity within the next 18 to 24 months.
The initiative also includes plans to construct a new high-capacity 330KV double-circuit transmission line along the corridor to improve electricity evacuation and distribution.
According to the presidency, GAMCO will be fully owned by the Federal Government as a commercial venture, with shares held by the Ministry of Finance Incorporated.
Officials say the project aims to unlock under-utilised national power assets, improve electricity reliability, attract private investment, and support industrial growth in line with the administration’s Renewed Hope Agenda.
The government believes that the initiative will boost productivity, protect jobs, improve investor confidence, and enhance the welfare of Nigerian households.