President Bola Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing Nigeria’s persistent power sector challenges.
The committee was constituted following the approval of the company’s establishment by the Federal Executive Council – Nigeria, which endorsed the proposal to create GAMCO as part of efforts to tackle stranded power generation, transmission bottlenecks, and grid management inefficiencies.
Earlier, the Federal Executive Council had approved the establishment of a Grid Asset Management Company to address Nigeria’s persistent power transmission challenges.
The Special Adviser to the President (Information and Strategy), Bayo Onanuga in a statement on Friday disclosed this.
“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 optimise and revolutionise power generation, and in particular, the grid and transmission sector,” he said.
He urged members of the committee to remain aligned with the President’s vision and strictly adhere to their mandate.
