Tinubu seeks to fix power transmission with planned GAMCO — Information minister

President Bola Tinubu has unveiled plans to establish a Grid Asset Management Company (GAMCO) aimed at reinforcing Nigeria’s electricity transmission network and improving power supply nationwide.

The initiative, announced on Wednesday by the Minister of Information and National Orientation, Mohammed Idris, comes after a Federal Executive Council (FEC) meeting at the State House, Abuja, chaired by the President. Idris said the proposal was presented directly by President Tinubu for council deliberation.

“The initiative would address Nigeria’s persistent electricity challenges, particularly in the transmission segment of the power sector,” Idris told journalists.

Nigeria’s power sector was unbundled following deregulation into three segments—generation, transmission, and distribution—with the transmission segment widely seen as the weakest link. Idris highlighted that the President identified this as a key obstacle to solving the country’s power deficit.

To implement the plan, the FEC approved the formation of an inter-ministerial committee to design the operational framework for the proposed company. The committee will include the Ministers of Power, State for Gas, Works, Finance, Science and Technology, the Attorney-General of the Federation, and the Chairman of the Nigerian Revenue Service. Other stakeholders may also be co-opted.

The panel is tasked with reviewing all regulatory, legal, and investment matters related to GAMCO, including the interests of current investors and operators in the sector. “All the enabling parameters will be looked at, the laws will be examined, and those who are practising in that sector and those who have invested in that sector will also have their level of investment considered,” Idris said.

The proposal is still under consideration, and the committee’s recommendations will be forwarded to the National Assembly for any legislative action deemed necessary.

Idris said the move is part of the administration’s broader economic reforms aimed at industrial development, noting that fixing Nigeria’s power challenges is critical to sustaining growth and boosting national productivity.