Pecohub President Bola Tinubu on Friday inaugurated an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO).
The development was confirmed in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
The move follows the Federal Executive Council’s approval of GAMCO and is expected to address longstanding challenges in Nigeria’s power sector, including stranded generation, transmission bottlenecks, and grid management inefficiencies.
According to the statement, the committee has been tasked with ensuring the smooth establishment of GAMCO, which the government plans to deploy as a vehicle for optimising electricity generation and transmission.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of President Tinubu, described the initiative as a major step toward improving power reliability in the country.
- “President Bola Tinubu on Friday constituted an 11-member committee to ensure the smooth sailing incorporation of the Grid Asset Management Company Limited (GAMCO).
- “The committee’s constitution followed the Federal Executive Council’s approval of the company’s establishment at its Wednesday meeting,” the statement read in part.
The committee will conduct a comprehensive review of existing laws, policies, and regulations affecting the electricity sector, including the implications of the Electricity Reform Laws (2025) and asset ownership structures.
It will also assess the legal and operational status of the Niger Delta Power Holding Company and the National Integrated Power Project plants—Omotosho, Olorunsogo, and Ihovbor—which GAMCO plans to use in its pilot phase.
The outcome of these reviews is expected to guide the operational structure and legal framework required for the successful establishment of the new company.
GAMCO is designed to recover and optimise stranded power along the Benin–Lagos transmission corridor by mobilising private capital and implementing disciplined asset management practices to improve grid performance.
The initiative forms part of broader reforms intended to strengthen the electricity value chain.
- The pilot phase of the project aims to recover at least 1,600 megawatts of stranded power within 18 to 24 months.
- Plans also include the development of a new 330kV+ double-circuit transmission line along the Benin–Lagos corridor.
- The transmission line serves Nigeria’s largest industrial and commercial centres located in Ogun and Lagos states.
The Federal Government will fully own GAMCO through the Ministry of Finance Incorporated.
If successful, the model will be expanded to other power plants and transmission corridors, creating a stronger backbone for long-term grid stabilisation and expansion.
