Tinubu inaugurates the Grid Asset Management Company board

President Bola Ahmed Tinubu on Friday constituted an 11-member committee to ensure the smooth establishment of the Grid Asset Management Company Limited (GAMCO).

The formation of the Committee follows the Federal Executive Council’s approval of the company’s formation at its meeting on Wednesday. By proposing GAMCO, President Tinubu hopes to find a quick solution to the endemic problems of stranded energy, grid management and transmission in the country’s electricity sector.

The President’s Chief of Staff, Femi Gbajabiamila, who performed the inauguration on behalf of the President, said the committee was instrumental in realizing President Tinubu’s aspirations in Nigeria’s energy sector.

“The proposed creation of GAMCO is one of the revolutionary steps taken by Mr. President and this administration in the very important energy sector. We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which fundamentally aims to optimize and revolutionize power generation, and in particular, the grid and transmission sector,” he said.

Gbajabiamila said: “The committee will conduct a comprehensive review of existing laws, regulations, policies and institutional frameworks that govern the electricity value chain, including generation, transmission, distribution and market operations.

“It will examine the implications of the Electricity Reform Laws (2025) and related separation agreements on the ownership, management and regulatory oversight of assets.

“It will identify areas of conflict, overlap or inconsistency between the proposed GAMCO framework and existing legal and regulatory instruments.”

Continuing, he said, “The committee will also assess the legal status, ownership structure and contractual obligations of the Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho, Olorunsogo and Ihovbor plants, which GAMCO intends to use for its pilot phase.

“It will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission and determine the fiscal, financial and market implications of the proposal, including subsidy exposure, market liquidity and revenue structures.

“Additionally, the Committee will determine whether the creation and operation of GAMCO will require changes to primary legislation, subsidy regulations and executive directives.”

The President’s Chief of Staff is the Chairman of the Committee, which includes the Attorney General of the Federation and Minister of Justice, as well as the Ministers of Energy, Works and Finance.

Others include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State (Petroleum), the Chairman of the Nigeria Revenue Agency and energy expert, Professor Yemi Oke; the Permanent Secretary of the Office of Cabinet Affairs, Dr. John Chidiebere Ezeamama, is the Secretary of the Committee.

The ultimate aim of the initiative is to increase industrial productivity, safeguard jobs, improve investor confidence and increase welfare outcomes for Nigerian families, in line with the Tinubu administration’s Renewed Hope Agenda.