President Bola Tinubu on Friday constituted an 11-member committee on the establishment of the Grid Asset Management Company Limited, GAMCO, aimed at addressing the national grid challenge.
A statement by presidential spokesman, Bayo Onanuga, said the constitution of the committee followed the Federal Executive Council’s approval for the establishment of the company at its Wednesday meeting.
DAILY POST reports that 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, said the committee was critical to the realization of 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 Committee on Grid Asset Management Company (GAMCO), which is basically to optimize and revolutionize power generation, and in particular, the grid and transmission sector,” the Chief of Staff said.
The statement noted that 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.
The Chief of Staff to the President is the chairman of the committee, with the A
attorney general of the federation and minister of justice and the ministers of power, works and finance as members.
Other members include the ministers of communication and digital economy, science, technology and innovation, and aviation and aerospace development; the minister of state (petroleum); the chairman of the Nigeria Revenue Service; and energy expert Professor Yemi Oke.
The Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, is the committee’s secretary.
Meanwhile, stakeholders had earlier raised alarm over the possible duplication of roles by GAMCO with other power sector agencies, such as the Nigeria Integrated System Operator, NISO, and the Transmission Company of Nigeria, TCN.