President Bola Ahmed Tinubu has initiated steps to establish a Grid Asset Management Company, GAMCO, as part of efforts to strengthen Nigeria’s electricity transmission network and improve power supply across the country.
The initiative forms part of broader reforms aimed at addressing persistent challenges within the power sector, particularly inefficiencies affecting the national grid.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this on Wednesday while briefing journalists at the State House in Abuja after the Federal Executive Council meeting chaired by the President.
Idris explained that the proposal was contained in a memorandum presented by President Tinubu for Council consideration.
He said the Federal Executive Council has approved the constitution of an inter ministerial committee that will develop the operational framework for the proposed company.
According to him, the committee will examine regulatory requirements, legal structures and investment models required for the establishment of the Grid Asset Management Company.
He added that once the committee completes its work, its recommendations will be transmitted to the National Assembly for legislative consideration.
