Olawunmi Ajibike
President Bola Tinubu has inaugurated an 11-member committee to ensure the smooth establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing Nigeria’s persistent power sector challenges.
The committee was constituted following the approval of the company’s establishment by the Federal Executive Council of Nigeria on Wednesday, to fast-track a quick-fix solution to the endemic problems of stranded power, grid management and transmission in the country’s electricity sector.
According to a statement signed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, the Chief of Staff to the President, Femi Gbajabiamila, while inaugurating the committee on behalf of the President, said the team was critical to the realisation of President Tinubu’s aspirations in Nigeria’s power sector.
“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,” the Chief of Staff said.
He called on members to align with the President’s vision in proposing the formation of GAMCO and to stick to the committee’s mandate.
The Chief of Staff said the committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations.
Gbajabiamila explained that the committee will examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management, and regulatory oversight, emphasising that the team will identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and extant legal and regulatory instruments.
Gbajabiamila said, “The committee will also assess the legal status, ownership structure, and contractual obligations of the Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho, Olorunshogo, and Ihovbor plants, which GAMCO plans to use for its pilot phase.
“It will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, and determine the fiscal, financial, and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.”
The statement also revealed that the Chief of Staff to the President is the Chairman of the Committee, with the Attorney–General of the Federation and Minister of Justice, and the Ministers of Power, Works, and Finance as members.
Others include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State (Petroleum), the Chairman of the Nigeria Revenue Service, and energy expert Professor Yemi Oke. The Permanent Secretary of the Cabinet Affairs Office, Dr John Chidiebere Ezeamama, is the committee’s secretary.
He added, “In addition, the committee will determine whether the establishment and operationalisation of GAMCO require amendments to primary legislation, subsidy regulations, and executive directives.”