Amid the current gas supply crisis that has crippled power generation in the country, President Bola Tinubu has inaugurated an 11-member committee to oversee the establishment of Grid Asset Management Company Limited (GAMCO), a move aimed at dismantling decades of inefficiency in Nigeria’s transmission network.
The initiative follows a proposal approved by the Federal Executive Council (FEC) on Wednesday.
Inaugurating the panel on behalf of the President on Friday, Chief of Staff Femi Gbajabiamila described the move as a transformative step for the power sector.
He emphasized that GAMCO is designed to bridge the gap between generation and delivery by optimizing transmission infrastructure—a bottleneck that has historically stifled the country’s electricity supply.
“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all-important power sector,” Gbajabiamila said.
He urged members of the committee to align with the president’s vision and focus on delivering on the committee’s mandate.
The committee has been tasked with conducting 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 assess the implications of the Electricity Reform Laws 2025 on asset ownership, management and regulatory oversight, while identifying any conflicts or inconsistencies between the proposed GAMCO framework and current legal and regulatory instruments.
Part of its mandate includes examining the legal status and contractual obligations of assets owned by the Niger Delta Power Holding Company and the National Integrated Power Project, particularly the Omotosho, Olorunshogo and Ihovbor power plants earmarked for the pilot phase of the initiative.
The committee will also evaluate the interface between GAMCO and the statutory responsibilities of the Nigerian Electricity Regulatory Commission, as well as assess the fiscal and market implications of the proposal, including subsidy exposure, market liquidity and revenue frameworks.
In addition, the panel will determine whether the operationalisation of GAMCO requires amendments to existing legislation, subsidy regulations or executive directives.
Gbajabiamila will chair the committee, while members include the Attorney-General of the Federation and Minister of Justice, as well as the Ministers of Power, Works and Finance.
Other members are the Ministers of Communication and Digital Economy; Science, Technology and Innovation; Aviation and Aerospace Development; and the Minister of State for Petroleum, alongside the Chairman of the Nigeria Revenue Service and energy expert, Prof. Yemi Oke.
The Permanent Secretary, Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, will serve as Secretary of the committee.
The Federal Government will fully own GAMCO as a commercial entity, with its shares held by the Ministry of Finance Incorporated.
The initiative is designed to recover and optimise stranded power generation, beginning with the Benin–Lagos transmission corridor as the pilot phase.
The corridor supplies electricity to Lagos State and Ogun State, the country’s largest industrial and commercial hubs.
During the pilot phase, the company will focus on improving output from three National Integrated Power Project plants: Omotosho with an installed capacity of 513 megawatts, Olorunshogo with 754 megawatts, and Ihovbor with 508 megawatts.
GAMCO is projected to recover at least 1,600 megawatts of electricity within 18 to 24 months, alongside the construction of a new high-capacity 330KV double-circuit transmission line along the corridor.
The government expects the initiative to unlock stranded capacity, improve power reliability and establish a scalable model for grid stabilisation and expansion across other transmission corridors nationwide.
Officials say the project will ultimately support industrial productivity, attract investment and strengthen electricity supply for households, in line with the administration’s economic agenda.
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