Nigeria Launches GAMCO to Revitalize Electricity Supply

Nigeria's government has inaugurated the Grid Asset Management Company (GAMCO) to tackle the country's persistent electricity supply issues. President Bola Tinubu established an 11-member committee, chaired by Chief of Staff Femi Gbajabiamila, to ensure the effective incorporation of GAMCO.

The committee's first meeting was held under the Federal Executive Council (FEC) to approve a memo aimed at addressing the power crisis. The initiative seeks to manage the transmission of electricity and unlock private investments in the sector.

The committee will conduct a comprehensive review of existing laws and policies governing the electricity value chain, focusing on optimizing power generation and transmission. The government aims to restore 1,600 megawatts of electricity within two years, addressing the challenges of underutilized generation capacity and inadequate transmission infrastructure.

The first phase of GAMCO will concentrate on the Benin-Lagos transmission corridor and three gas-fired plants, with the goal of improving the reliability of electricity supply across Nigeria.