Government plans to boost electricity with GAMCO initiative
Nigeria’s electricity sector has long struggled with unreliable power supply despite significant investments. The Federal Government is introducing the Grid Asset Management Company Limited (GAMCO) to unlock stranded generation capacity and improve transmission infrastructure. Bola Tinubu and key ministers are backing this new approach, which aims to revitalise existing assets rather than build new plants. The pilot project will focus on the Benin–Lagos corridor, targeting three major power plants.
TLDR
- Bola Tinubu proposed the creation of GAMCO to address longstanding power sector challenges.
- An 11-member committee, chaired by Femi Gbajabiamila, was set up after Federal Executive Council approval on Wednesday, 4 March 2026.
- The pilot phase will focus on the Omotosho, Olorunsogo, and Ihovbor power plants, aiming to recover at least 1,600MW within 18 to 24 months.
- GAMCO will operate as a commercially structured entity, mobilising private capital and partnering with existing institutions like NDPHC and TCN.
- Experts highlight that unlocking stranded capacity is faster and more cost-effective than building new plants, but financing and infrastructure challenges remain.
