Tinubu Inaugurates 11-Member Committee to Establish GAMCO, Targets Recovery of 1,600MW Stranded Power
President Bola Ahmed Tinubu has inaugurated an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at resolving persistent transmission challenges and unlocking stranded electricity capacity in Nigeria.
The committee was inaugurated on Friday by the Chief of Staff to the President, Femi Gbajabiamila, following approval by the Federal Executive Council earlier in the week for the establishment of the company.
In a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the presidency said the initiative forms part of efforts to fast-track solutions to the country’s long-standing electricity transmission and grid management problems.
Speaking during the inauguration in Abuja, Gbajabiamila said the proposed company represents a major reform in Nigeria’s electricity sector and aligns with the President’s broader vision to improve power generation and transmission efficiency.
“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. “We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, particularly the grid and transmission sector.”
He urged committee members to align with the administration’s objectives and diligently execute their mandate.
According to the presidency, the committee will conduct a comprehensive review of existing laws, regulations and policies governing Nigeria’s electricity value chain, including generation, transmission, distribution and market operations.
It will also examine the implications of the Electricity Reform Act 2025 on asset ownership, management and regulatory oversight, while identifying possible conflicts or overlaps between the proposed GAMCO framework and existing regulatory instruments.
Part of the committee’s assignment is to assess the legal status and contractual obligations of the Niger Delta Power Holding Company and the National Integrated Power Project assets, particularly the Omotosho, Olorunsogo and Ihovbor power plants earmarked for the pilot phase.
The committee will further evaluate the relationship between GAMCO and the Nigerian Electricity Regulatory Commission, while determining the fiscal, financial and market implications of the proposal, including subsidy exposure, market liquidity and revenue frameworks.
Members of the committee include the Attorney-General of the Federation, Ministers of Power, Works and Finance, as well as Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum. The Chairman of the Nigeria Revenue Service and energy expert Yemi Oke are also members, while the Permanent Secretary, Cabinet Affairs Office, John Chidiebere Ezeamama, serves as secretary.
The Grid Asset Management Company will be wholly owned by the Federal Government through the Ministry of Finance Incorporated and will operate as a commercial venture focused on optimising stranded generation capacity.
As part of its pilot phase, GAMCO will target the Benin–Lagos transmission corridor, a major electricity evacuation route supplying power to Lagos State and Ogun State, the country’s largest industrial and commercial hubs.
The company will initially optimise generation from three NIPP plants—Omotosho with an installed capacity of 513MW, Olorunsogo with 754MW, and Ihovbor with 508MW.
Government projections indicate that the initiative could recover at least 1,600 megawatts of stranded electricity within 18 to 24 months, supported by the development of a new high-capacity 330kV double-circuit transmission line along the same corridor.
Officials say the project is designed to mobilise private capital, strengthen asset management and improve electricity reliability nationwide.
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The presidency noted that if successful, the pilot phase will provide a scalable model that can be extended to additional power plants and transmission corridors, forming the backbone of long-term grid stabilisation and expansion in Nigeria.
The initiative is expected to enhance industrial productivity, boost investor confidence and improve electricity supply to households, in line with the administration’s Renewed Hope Agenda.
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