President Bola Tinubu has constituted an 11-member committee to oversee the smooth incorporation of the Grid Asset Management Company Limited.
The inauguration comes 48 hours after the Federal Executive Council approved a memo presented by Tinubu for the creation of GAMCO on Wednesday. GAMCO is a new entity designed to address the country’s chronic power transmission challenges, Minister of Information and National Orientation, Mohammed Idris, revealed on Wednesday.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on Friday at the State House, Abuja, described GAMCO as “one of the revolutionary steps taken by Mr. President and this administration in the all-important power sector.”
Gbajabiamila, in a statement announcing the inauguration of the committee by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said: “The proposed establishment of GAMCO is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector.”
He called on the committee members to align with the President’s vision and stick to their mandate of ensuring GAMCO’s successful takeoff.
The committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations.
