President Bola Tinubu has constituted an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO) as part of efforts to strengthen Nigeria’s power sector.
The committee was inaugurated on Friday following the approval of GAMCO by the Federal Executive Council during its meeting earlier in the week.
The new company is expected to address long-standing challenges in Nigeria’s electricity sector, including stranded power, grid management problems and transmission constraints.
Speaking during the inauguration, the President’s Chief of Staff, Femi Gbajabiamila, who represented Tinubu, described the initiative as a major step toward transforming the country’s power infrastructure.
According to him, the committee’s work is vital to achieving the administration’s goals of improving electricity generation, transmission efficiency and overall grid stability.
The committee will conduct a comprehensive review of 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 Laws 2025, particularly in relation to asset ownership, management and regulatory oversight.
In addition, the panel will evaluate the legal and operational framework surrounding assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project.
Key facilities to be reviewed include the Omotosho Power Plant, Olorunsogo Power Plant, and Ihovbor Power Plant, which will be used for GAMCO’s pilot phase.
Gbajabiamila will chair the committee, while members include the Attorney-General of the Federation, as well as the Ministers of Power, Works and Finance.
Other members include ministers responsible for Communications and Digital Economy, Science and Technology, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Also on the committee are 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 the committee’s secretary.
The Federal Government plans to use the Benin-Lagos transmission corridor as the pilot phase for the GAMCO project.
This corridor currently supplies bulk electricity to Lagos State and Ogun State, two of Nigeria’s most significant industrial and commercial hubs.
The project aims to recover at least 1,600 megawatts of electricity within 18 to 24 months, alongside the development of a new high-capacity 330kV double-circuit transmission line along the corridor.
The Federal Government will fully own GAMCO as a commercial venture, with shares held by the Ministry of Finance Incorporated.
Officials say the initiative is designed to unlock stranded generation capacity, attract private investment and improve electricity reliability nationwide.
If the pilot phase succeeds, the model will be expanded to other transmission corridors and power plants across the country.
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