President Bola Ahmed Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO), a new government-backed entity aimed at tackling persistent transmission bottlenecks and unlocking stranded electricity generation across the country.
The committee was constituted following the approval by the Federal Executive Council earlier this week for the creation of the company, which the administration hopes will accelerate solutions to longstanding challenges in grid management, transmission capacity and underutilised power generation within Nigeria’s electricity sector.
Speaking during the inauguration on Friday in Abuja on behalf of the president, the Chief of Staff, Femi Gbajabiamila, described the initiative as a major step in the government’s efforts to transform the power sector and improve electricity supply across the country.
“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. “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 stressed that the committee’s work would be crucial to achieving the administration’s goals for a more efficient electricity system and urged members to align closely with the president’s vision while carrying out their mandate.
Under its terms of reference, the committee will 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 panel will also examine the implications of the Electricity Reform Laws passed in 2025 and assess how existing unbundling arrangements affect asset ownership, management and regulatory oversight.
Part of the committee’s assignment will involve identifying potential conflicts or overlaps between the proposed GAMCO framework and existing regulatory instruments, particularly the statutory responsibilities of the Nigerian Electricity Regulatory Commission. It will also determine whether establishing the company requires amendments to existing legislation, subsidy regulations or executive directives.
Another key task will be reviewing the legal status and ownership structure of power assets under the Niger Delta Power Holding Company and the National Integrated Power Project, including the Omotosho, Olorunsogo and Ihovbor power plants, which have been earmarked for the pilot phase of the new initiative.
The Federal Government plans to use the Benin–Lagos transmission corridor as the initial test bed for GAMCO’s operations, with the goal of recovering stranded power capacity and improving electricity evacuation to major industrial centres in southern Nigeria. The corridor supplies bulk electricity to Lagos State and Ogun State, two of the country’s largest commercial and manufacturing hubs.
According to government projections, the Omotosho, Olorunsogo and Ihovbor plants—each part of the National Integrated Power Project—have a combined installed capacity exceeding 1,700 megawatts but remain underutilised due to grid constraints and operational inefficiencies. GAMCO is expected to recover at least 1,600 megawatts of power within 18 to 24 months by improving transmission evacuation and asset management along the corridor.
The new company will be fully owned by the Federal Government and operated as a commercial venture, with shares held through the Ministry of Finance Incorporated. Its responsibilities will include modernising transmission evacuation infrastructure and mobilising private capital to support grid expansion and improved electricity delivery.
As part of the pilot project, GAMCO also plans to develop a new high-capacity 330-kilovolt double-circuit transmission line along the Benin–Lagos axis to strengthen the grid and support increased power evacuation from generation plants in the region.
Officials say the long-term objective is to create a scalable model that can be extended to other power plants and transmission corridors nationwide, helping stabilise Nigeria’s electricity grid and maximise returns on public investments already made in the sector.
The government believes the initiative could ultimately enhance industrial productivity, improve investor confidence and deliver more reliable electricity to households, aligning with the administration’s broader economic reform agenda.
