Business
Tinubu Inaugurates Committee On Grid Asset Management Company
President Bola Ahmed Tinubu has inaugurated an 11-member committee to facilitate the incorporation of the proposed Grid Asset Management Company Limited (GAMCO), a new federal initiative aimed at addressing persistent grid management challenges and unlocking stranded electricity generation across the country..
The committee, chaired by the Chief of Staff to the President, Femi Gbajabiamila, was inaugurated at the State House, Abuja, following the Federal Executive Council’s approval of the company’s establishment, as part of broader power sector reforms.
Speaking at the inauguration, President Tinubu, represented by Gbajabiamila described the proposed GAMCO as a “revolutionary step” in the administration’s drive to optimise electricity generation and strengthen transmission infrastructure.
In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Gbajabiamila said, “The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr. President and this administration in the all-important power sector.
“We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector”.
Gbajabiamila urged members of the committee to align with President Tinubu’s vision for transforming the electricity industry and to faithfully execute the committee’s mandate.
According to him, the panel would conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing Nigeria’s electricity value chain, including generation, transmission, distribution, and market operations.
The committee would also examine the implications of the Electricity Reform Laws (2025) and the ongoing unbundling arrangements in the sector, particularly as they affect asset ownership, management, and regulatory oversight.
It would identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and current legal and regulatory instruments guiding the industry.
In addition, the committee is expected to assess the legal status, ownership structure, and contractual obligations surrounding the assets of the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP).
These assets include the Omotosho, Olorunsogo, and Ihovbor power plants, which have been selected for the pilot phase of the GAMCO initiative.
The panel would further evaluate the interface between GAMCO’s proposed mandate and the statutory responsibilities of the Nigeria Electricity Regulatory Commission (NERC), while examining the initiative’s fiscal and financial implications, including potential subsidy exposure, market liquidity, and revenue frameworks.