Nigeria’s President, Bola Tinubu has inaugurated a 11-member committee to oversee the creation of the Grid Asset Management Company Limited (GAMCO), a proposed initiative aimed at improving Nigeria’s electricity transmission system and reducing stranded power.
The committee was announced after approval by the Federal Executive Council earlier this week for the establishment of the new company as part of reforms in the country’s electricity sector.
Speaking at the inauguration in Abuja on Friday, Femi Gbajabiamila, who represented the president, said the initiative is designed to strengthen grid management and accelerate improvements in power generation and transmission.
According to him, the committee will examine existing laws, policies and institutional arrangements governing Nigeria’s electricity value chain, including generation, transmission, distribution and market operations.
The panel will also assess how the proposed company aligns with the responsibilities of the Nigerian Electricity Regulatory Commission and evaluate financial implications such as subsidies, market liquidity and revenue structures.
Officials say the group will review the legal and operational status of power plants owned by the Niger Delta Power Holding Company under the National Integrated Power Project.
Three plants Omotosho, Olorunsogo and Ihovbor are expected to form the pilot phase of the project.
The proposed Grid Asset Management Company will focus on recovering underutilised generation capacity and strengthening transmission along the Benin-Lagos corridor, one of the country’s most critical electricity supply routes serving major industrial and commercial centres.
Government officials estimate that the project could restore at least 1,600 megawatts of electricity within 18 to 24 months by optimising output from the selected plants.
The initiative also includes plans to develop a new high-capacity 330kV double-circuit transmission line to improve power evacuation and reduce bottlenecks in the national grid.
GAMCO will be fully owned by the federal government as a commercial entity, with shares held through the Ministry of Finance Incorporated. Adding that the company will mobilise private capital, strengthen asset management and improve reliability across the grid.
If the pilot phase succeeds, officials plan to replicate the model across other power plants and transmission corridors to support long-term grid expansion and stabilisation in Africa’s largest economy.
About The Author
