Tinubu Moves to Fix Nigeria’s Power Grid with New GAMCO Initiative

President Bola Ahmed Tinubu has launched a major reform initiative aimed at tackling Nigeria’s persistent electricity challenges by setting up an 11-member committee to oversee the creation of the Grid Asset Management Company Limited (GAMCO).

The new company, approved by the Federal Executive Council, is designed to recover stranded electricity capacity, improve grid management, and strengthen transmission infrastructure across the country.

The committee—chaired by Chief of Staff Femi Gbajabiamila—will review the legal, financial, and operational framework for GAMCO, including how it will interact with regulators like the Nigeria Electricity Regulatory Commission.

A key focus of the pilot phase is the Benin–Lagos transmission corridor, which supplies power to major industrial hubs in Lagos and Ogun states. The project will optimise output from plants under the Niger Delta Power Holding Company and the National Integrated Power Project, including the Omotosho, Olorunsogo, and Ihovbor power plants.

Tinubu Moves to Fix Nigeria’s Power Grid with New GAMCO Initiative

With installed capacities of 513MW, 754MW, and 508MW respectively, the initiative aims to recover about 1,600MW of electricity within 18–24 months and develop a new 330kV double-circuit transmission line along the corridor.

Officials say GAMCO—fully owned by the federal government through the Ministry of Finance Incorporated—will unlock underutilised energy assets, attract private investment, and improve power reliability, a key pillar of the administration’s economic and industrial growth agenda.

Written by Boom RadioNG