TINUBU INAUGURATES COMMITTEE TO DRIVE GAMCO POWER REFORM
By: Safiya Abdulrahim Dabban
President Bola Ahmed Tinubu has inaugurated a committee to oversee the establishment of the Grid Asset Management Company (GAMCO), a new initiative aimed at improving Nigeria’s electricity transmission and unlocking stranded power.
Representing the President, Chief of Staff Femi Gbajabiamila said the move is part of the administration’s effort to stabilise the power sector and strengthen grid management across the country.
GAMCO will focus on recovering unused generation capacity from power plants under the National Integrated Power Project, particularly along the Benin–Lagos transmission corridor. The pilot phase is expected to optimise output from the Omotosho, Olorunsogo and Ihovbor plants and deliver about 1,600MW within 18 to 24 months.
The Federal Government will own the company through the Ministry of Finance Incorporated, with plans to mobilise private investment, modernise transmission infrastructure and improve electricity reliability.
Officials say the project is designed to unlock stranded capacity, strengthen the national grid and support industrial growth in line with the administration’s Renewed Hope agenda.