President Bola Tinubu has inaugurated an 11-member high-level committee to midwife the creation of the Grid Asset Management Company Limited, GAMCO, a new government-owned firm intended to tackle Nigeria’s long-standing electricity transmission and grid reliability problems.

The move follows Federal Executive Council approval for GAMCO as a specialised vehicle to manage critical grid and related generation assets, reduce stranded power, and modernise transmission infrastructure. The company is expected to operate as a fully government-owned commercial entity, with its shares held through the Ministry of Finance Incorporated.

Inaugurating the committee on behalf of the President, Chief of Staff Femi Gbajabiamila described the initiative as a major reform in the power sector, saying it is designed to “optimise and revolutionise power generation, and in particular, the grid and transmission sector.” He urged members to align strictly with Tinubu’s mandate to stabilise power supply and unlock industrial growth.

The committee’s terms of reference include a comprehensive review of existing electricity laws, regulations, and institutional frameworks across generation, transmission, distribution, and market operations. It will scrutinise how recent electricity reform laws affect asset ownership and regulatory oversight, and identify conflicts or overlaps with the proposed GAMCO structure.

Central to the plan is the Benin–Lagos transmission corridor, which carries bulk power to Ogun and Lagos, Nigeria’s main industrial and commercial hubs. The pilot phase will focus on optimising output from three National Integrated Power Project plants: Omotosho (513MW), Olorunsogo (754MW), and Ihovbor (508MW). Government projections indicate GAMCO could recover at least 1,600MW within 18 to 24 months, supported by a new high-capacity 330kV-plus double-circuit transmission line along the corridor.

Under the proposal, the Niger Delta Power Holding Company will grant GAMCO concession and lease arrangements for the three plants, while the Transmission Company of Nigeria will permit the development, financing, and operation of the new transmission line. The model is expected to be replicated across other plants and corridors if the pilot succeeds.

Officials say the initiative is aimed at unlocking underutilised NIPP generation assets, easing transmission bottlenecks, improving market liquidity, and reducing subsidy exposure. The government projects that a more reliable grid will boost industrial productivity, protect jobs, attract investment, and improve household welfare in line with its broader economic agenda.