Tinubu Proposes GAMCO to Resolve Nigeria's Power Crisis

President Bola Ahmed Tinubu proposed the creation of a Grid Asset Management Company (GAMCO) during a Federal Executive Council (FEC) meeting in Abuja, aimed at tackling Nigeria's persistent electricity transmission issues. Mohammed Idris, the Minister of Information, disclosed this initiative, which is part of a broader reform strategy to stabilize the country's power sector and accelerate industrial growth.

President Tinubu identified transmission as the weakest link in Nigeria's electricity value chain, emphasizing the need for a permanent solution to the power crisis. The proposal includes forming a high-level multi-ministerial committee to ensure seamless implementation, comprising the Ministers of Power, State for Power, Works, Finance, and Science and Technology, chaired by the Nigeria Legal Services Secretariat.

The committee will evaluate regulatory requirements and investment parameters necessary for establishing GAMCO. This initiative aligns with the Tinubu administration's efforts to stabilize the economy and improve key economic indicators, including foreign reserves and inflation rates.