President Bola Tinubu has constituted an 11-member committee to ensure the smooth sailing incorporation of the Grid Asset Management Company Limited, GAMCO.
The Chief of Staff to the President, Femi Gbajabiamila, performed the inauguration on behalf of the President on Friday in Abuja.
Gbajabiamila said the committee was critical to the realisation of President Tinubu’s aspirations in Nigeria’s power sector.
The constitution of the committee followed the Federal Executive Council’s approval for the establishment of the company at its Wednesday meeting.
According to Gbajabiamila, in proposing GAMCO, President Tinubu hopes to fast-track a quick-fix solution to the endemic problems of stranded power, grid management and transmission in the country’s electricity 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.
“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,” Gbajabiamila said.
The Chief of Staff called on members to align with the President’s vision in proposing the formation of GAMCO and to stick to the committee’s mandate.
He equally stated that the committee would conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations.
The former Speaker of the House of Representatives added the committee would examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management and regulatory oversight.
