President Bola has constituted an 11-member committee to ensure the smooth incorporation of the Grid Asset Management Company Limited (GAMCO).
 
The constitution of the committee followed the Federal Executive Council’s approval for the establishment of the company at its Wednesday meeting.
 
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 Chief of Staff to the President, Femi Gbajabiamila, who performed the inauguration on behalf of the President, on Friday, said the committee was critical to the realisation of President Tinubu’s aspirations in Nigeria’s power 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 GAMCO, which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector,” Gbajabiamila said.
 
He 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 further said 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.
 
“It will examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management, and regulatory oversight. It will identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and extant legal and regulatory instruments.
  
“The committee will also assess the legal status, ownership structure, and contractual obligations of the Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho, Olorunshogo, and Ihovbor plants, which GAMCO plans to use for its pilot phase.
 
“It will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, and determine the fiscal, financial, and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.

“In addition, the committee will determine whether the establishment and operationalisation of GAMCO require amendments to primary legislation, subsidy regulations, and executive directives.”
  
The Chief of Staff to the President is the Chairman of the Committee, with the Attorney-General of the Federation and Minister of Justice, and the Ministers of Power, Works, and Finance as members.
  
Others include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State (Petroleum), the Chairman of the Nigeria Revenue Service, and energy expert Prof. Yemi Oke.  The Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, is the committee’s secretary.