Tinubu Sets Up Committee to Launch GAMCO, Targets 1,600MW Stranded Power Recovery

President Bola Ahmed Tinubu has inaugurated an 11-member committee tasked with facilitating the incorporation of the proposed Grid Asset Management Company Limited (GAMCO), a federal initiative designed to address long-standing grid management challenges and unlock stranded electricity generation in Nigeria.

The committee, chaired by the President’s Chief of Staff, Femi Gbajabiamila, was inaugurated on Friday at the State House in Abuja following the Federal Executive Council’s approval earlier in the week for the establishment of the company.

Speaking on behalf of the President during the inauguration, Gbajabiamila described GAMCO as a transformative initiative aimed at strengthening Nigeria’s electricity transmission infrastructure and optimising power generation.

According to him, the creation of GAMCO represents a significant step in the Tinubu administration’s efforts to reform the country’s critical power sector.

“We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, particularly in the grid and transmission sector,” he said.

Gbajabiamila urged members of the committee to align with the administration’s broader agenda for transforming the electricity industry and ensure they deliver on the mandate given to them.

The panel will undertake a comprehensive review of existing laws, policies and institutional frameworks governing Nigeria’s electricity value chain, including generation, transmission, distribution and market operations.

It will also examine the implications of the Electricity Reform Laws of 2025 and ongoing restructuring within the power sector, particularly in relation to asset ownership, management and regulatory oversight.

Part of its assignment includes identifying areas of conflict, overlap or inconsistencies between the proposed GAMCO framework and existing legal and regulatory instruments guiding the electricity industry.

The committee will also assess the legal status, ownership structures and contractual obligations tied to assets of the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP).

Among the assets under review are three power plants—Omotosho, Olorunsogo and Ihovbor—which have been selected for the pilot phase of the GAMCO initiative.

These plants have installed capacities of 513 megawatts, 754 megawatts and 508 megawatts respectively.

The Federal Government aims to recover at least 1,600 megawatts of currently stranded electricity within the next 18 to 24 months through the initiative.

A major component of the project includes the development of a new high-capacity 330KV+ double-circuit transmission line along the Benin-Lagos corridor.

The corridor plays a critical role in supplying electricity to Lagos and Ogun states, which are among Nigeria’s largest industrial and commercial hubs.

Under the proposed framework, the Niger Delta Power Holding Company will grant GAMCO concession and lease rights over the selected power plants.

Similarly, the Transmission Company of Nigeria will provide GAMCO with the rights to develop, finance and operate the new transmission infrastructure along the corridor.

Apart from Gbajabiamila as chairman, the committee includes the Attorney-General of the Federation and Minister of Justice; the Ministers of Power, Works and Finance; the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.

Other members are the Chairman of the Nigeria Revenue Service and energy law expert Professor Yemi Oke.

The Permanent Secretary of the Cabinet Affairs Office, Dr John Chidiebere Ezeamama, will serve as secretary of the committee.

GAMCO is structured as a government-owned commercial venture, with its shares to be held by the Ministry of Finance Incorporated.

According to the Presidency, the initiative aims to transform under-utilised public investments in the power sector into reliable electricity supply, improve grid stability and boost energy delivery to Nigeria’s major economic centres.

Officials say that if the pilot phase succeeds, the model could be replicated across other power plants and transmission corridors nationwide.

The government believes unlocking stranded generation capacity and improving transmission efficiency will boost industrial productivity, protect jobs, strengthen investor confidence and improve living standards for Nigerian households under the Renewed Hope Agenda of the Tinubu administration.