Tinubu Launches Committee for Grid Asset Management Company
On October 25, 2023, President Bola Tinubu inaugurated an 11-member committee tasked with ensuring the successful incorporation of the Grid Asset Management Company (GAMCO). This initiative, approved by the Federal Executive Council (FEC), aims to address persistent power sector challenges in Nigeria.
The committee, chaired by Chief of Staff Femi Gbajabiamila, includes members from various ministries, such as Justice, Power, Finance, and the Nigeria Revenue Service. The committee's mandate involves a comprehensive review of existing laws, regulations, and policies governing the electricity value chain, including the implications of the 2025 electricity reform law.
It will assess the legal status of asset ownership and management, focusing on optimizing power generation and transmission, particularly in the Benin-Lagos transmission corridor. The GAMCO project aims to recover at least 1,600 MW within 18 to 24 months, enhancing the reliability of Nigeria's electricity supply.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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