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By Lizzy Chirkpi
President Bola Ahmed Tinubu on Friday constituted an 11-member committee to ensure the smooth incorporation of the Grid Asset Management Company Limited (GAMCO) as part of efforts to address persistent challenges in Nigeria’s electricity sector.
The committee’s formation followed the approval by the Federal Executive Council for the establishment of the company during its meeting on Wednesday.
In proposing GAMCO, President Tinubu aims to fast-track solutions to the long-standing problems of stranded power, poor grid management and inefficiencies in the country’s electricity transmission system.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of the President, said the initiative represents a critical step toward achieving the administration’s vision for Nigeria’s power sector.
“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr. President and this administration in the all-important power sector,” Gbajabiamila said.
“We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector,” he added.
He urged members of the committee to align with the President’s vision and remain committed to the mandate assigned to them.
According to him, the committee will undertake a comprehensive review of existing laws, regulations, policies and institutional frameworks governing the electricity value chain.
“The committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution and market operations,” he said.
Gbajabiamila further explained that the panel would examine the implications of the Electricity Reform Laws and related unbundling arrangements on asset ownership, management and regulatory oversight within the power sector.
He added that the committee would also identify areas of conflict, overlap or inconsistency between the proposed GAMCO framework and existing legal and regulatory instruments.
Members of the committee include: the Chief of Staff to the President, Femi Gbajabiamila, who serves as Chairman; the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN); the Minister of Power; the Minister of Works; the Minister of Finance; the Minister of Communications and Digital Economy; the Minister of Science, Technology and Innovation; the Minister of Aviation and Aerospace Development; the Minister of State for Petroleum; the Chairman of the Nigeria Revenue Service; and renowned energy law expert, Professor Yemi Oke. The Permanent Secretary, Cabinet Affairs Office, Dr John Chidiebere Ezeamama, will serve as Secretary of the committee.
The move, according to the presidency, is expected to strengthen Nigeria’s electricity transmission infrastructure and improve the overall efficiency of the power sector.
The Grid Asset Management Company Limited is designed as a government-owned commercial venture that will optimise stranded power generation and improve transmission efficiency, starting with a pilot phase along the Benin–Lagos transmission corridor.