Tinubu Launches Committee for Grid Asset Management Company

On Friday, President Bola Tinubu inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company (GAMCO), following the Federal Executive Council's approval. This initiative aims to tackle long-standing challenges in Nigeria's power sector, including stranded generation and transmission bottlenecks.

The committee, led by Chief of Staff Femi Gbajabiamila, is tasked with ensuring the smooth establishment of GAMCO and will conduct a comprehensive review of existing laws, policies, and regulations affecting the electricity sector. The review will assess the legal and operational status of the Niger Delta Power Holding Company and the National Integrated Power Project plants.

GAMCO is designed to optimize stranded power along the Benin-Lagos transmission corridor and mobilize private capital for improved asset management practices. The Federal Government will fully own GAMCO, which is part of broader reforms intended to strengthen the electricity value chain.

The committee includes members from various ministries and is expected to recommend legislative approvals to the National Assembly.