President Tinubu Inaugurates Committee To Oversee Grid Asset Company Incorporation As FEC Approves Establishment

President Tinubu inaugurates committee to oversee grid asset company incorporation as FEC approves establishment. President Bola Tinubu has constituted an 11-member committee to facilitate the seamless incorporation of the Grid Asset Management Company (GAMCO) Limited.

In a statement on Friday, Bayo Onanuga, presidential spokesperson, said the committee was constituted following the federal executive council’s (FEC) approval for the establishment of the company at its Wednesday meeting.

According to the statement, the committee will be chaired by Femi Gbajabiamila, chief of staff to the president.

Members include the attorney-general of the federation and minister of justice, as well as the ministers of power, works, and finance.

Other members are the ministers of communications and digital economy; science, technology and innovation; and aviation and aerospace development.

The minister of state for petroleum, the chairman of the Nigeria Revenue Service (NRS), and Yemi Oke, a professor and energy expert, are also part of the committee.

John Ezeamama, permanent secretary of the cabinet affairs office, will serve as the committee’s secretary.

Advertisement
“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 presidency said.

Gbajabiamila, who conducted the inauguration on behalf of the president, said the company is designed to optimise and transform power generation, with a particular focus on the grid and transmission sectors.

He urged committee members to align with the president’s vision in establishing GAMCO and to adhere strictly to the committee’s mandate.

Gbajabiamila added that the committee will carry out a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the entire electricity value chain, including generation, transmission, distribution, and market operations.

FUNCTIONS OF THE COMMITTEE

According to the statement, the committee will examine the implications of the Electricity Reform Laws (2025) and associated unbundling arrangements on asset ownership, management, and regulatory oversight.

“It will identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and extant legal and regulatory instruments,” the statement reads.

“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.

“It will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, and determine the fiscal, financial, and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.”

The presidency said the committee will assess if GAMCO’s setup requires changes to laws, subsidy rules, or executive directives.

ABOUT THE PROPOSED GAMCO

According to the statement, the GAMCO aims to recover and optimise stranded power generation using the Benin-Lagos transmission corridor as a pilot phase.

Discover more
Nigerian political news
News website analytics
Online news portal
Political commentary
Advertisement space
Onanuga said the initiative will address Nigeria’s power sector challenges, adding that the federal government will fully own GAMCO as a commercial venture, with the shares held by the Ministry of Finance Incorporated (MOFI).

He said the company will modernise transmission evacuation, starting from the most critical axis within Nigeria’s power system.

“The Benin-Lagos transmission corridor evacuates bulk power supply to Ogun and Lagos states, Nigeria’s largest industrial and commercial centres,” the spokesperson said.

Electricity

“The pilot phase will focus on optimising power output from the Omotosho, Olorunsogo and Ihovbor National Integrated Power Plants (NIPP plants). Omotoso’s installed capacity is 513MW, Olorunsogo’s 754 MW, and Ihovbor’s 508 MW.

“GAMCO projects to recover at least 1,600 MW within 18-24 months, alongside the development of a new high-capacity 330V+ double-circuit transmission line along the same corridor.”

He also said if the new company succeeds in the pilot phase, it will create a scalable model for other plants and corridors, forming the foundation

“At present, substantial Federal Government investment in NIPP generation assets remains under-optimised due to operational inefficiencies and transmission evacuation bottlenecks, resulting in stranded capacity and suboptimal return on public capital,” Onanuga said.

“GAMCO plans to unlock the stranded power of the three selected NIPP and develop a parallel high-capacity transmission corridor along the Benin-Lagos axis, thus translating underperforming national assets into reliably delivered megawatts.”

As proposed, he said the Niger Delta Power Holding Company (NDPHC) will grant GAMCO the concession and lease arrangements for the three plants.

Onanuga said the TCN will also grant GAMCO the right to develop, finance, and operate a greenfield 330 kilovolt+ (KV) double-circuit independent power transmission line along the identified corridor.

Ola Olukoyede Applauds Impact Of Proceeds Of Crime Act In Asset Recovery

Ola Olukoyede applauds impact of proceeds of crime act in asset recovery. The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has applauded the Proceeds of Crime Act 2022 for its impact in asset recovery and management.

Speaking on Wednesday, March 4, 2026 at the opening ceremony of a workshop for officers of EFCC’s Department of Proceeds of Crime Management and other departments of the Commission at the EFCC Academy, Karu, Abuja, the EFCC’s Chairman noted that asset recovery and management was at the core of the Commission’s fight against corruption, economic and financial crimes, noting that the Proceeds of Crime Act 2022 “is a game-changer provided for a comprehensive legal framework for the identification, tracing, seizure, forfeiture, management, and disposal of proceeds of crime.”

The EFCC’s boss, who spoke through the Acting Commandant, EFCC Academy, Assistant Commander of EFCC, ACE1 Joseph Ogwiji, further observed that the Act has led to the “strengthening of financial intelligence and investigation, enhanced prosecutorial effectiveness, transparency and accountability in asset management and promotion of public trust in the anti-corruption framework.”

The Director, Department of Proceeds of Crime Management, Commander of EFCC, CE G.K. Latona in his remarks observed that the need for continuous knowledge sharing and capacity development of those saddled with the responsibilities of managing and disposing of recovered assets was imperative.

“The management, preservation and disposal of assets have now become a specialized issue and no longer a thing for the generalists. It has become professionalized worldwide that you now have associations like ARINWA, Asset Recovery Inter-Agency Network of West Africa. So, there is the need for us here to move along with this trend,” he said.

Ola Olukoyede

Obialunanma Nnaobi-Ayodele, Deputy Director, African Center for Governance, Asset Recovery and Sustainable Development, co-organizers of the workshop, stated that the collaboration with the EFCC was motivated by the Training Needs Assessment, conducted by her organisation with the of aim of mitigating money laundering and terrorist financing. She identified “strengthening legal competences, enhancing operational capability and fostering institutional collaboration with relevant agencies,” as the objectives of the training.

An interactive session at the Workshop brought out experiences and challenges peculiar to various commands of the EFCC and recommendations.

How Governor Umo Eno Creating Cities Out Of A City

How Governor Umo Eno creating cities out of a city. On Dominic Utuk Avenue in Uyo, the Akwa Ibom State capital, where a menacing erosion gully once swallowed land, livelihoods and hope, a new geography has emerged.

It is not merely a construction project; it is an audacious reimagining of space and the recreation of the biblical “City Made of Gold”. The ARISE Palm Resort standing on the space today is a proof that vision, when matched with execution, can convert ecological scars into economic signatures.

Before bulldozers progressively arrived the site, the 70–71 hectares were a troubled landscape—deep ravines, criminal hideouts, and advancing erosion threatening nearby public and private infrastructure. What could have remained an environmental liability has instead become an engineered ecosystem, courtesy of the visionary leadership of the Akwa Ibom State Governor, Pastor Umo Eno.

At the construction site of the “City” which unarguably is the first of its kind in Nigeria, ten to twelve metres of unstable earth have been excavated and replaced. A massive drainage control tunnel—about 3.5 metres high and 6 metres wide—now channels water responsibly. This is not beautification; it is environmental surgery, and the narrative shift from danger zone to economic citadel sends a powerful development message: decay is not destiny.

At the center of the resort is a cynosure of a Palm tree, which is both symbolic and instructive. This, perhaps, explains why Palm forms part of the name. In local culture, the palm tree represents resourcefulness—every part productive, every yield valuable. In similar fashion, the resort has been structured so that each facility—sports, hospitality, retail, conferencing, entertainment—becomes a revenue stream.

The foregoing implies that the ARISE Palm Resort is not an isolated beautification effort. It is a coordinated strategy aligning erosion control, tourism development, employment generation, renewable energy adoption and revenue expansion within a single framework. Few public projects attempt such multi-layered integration.

To understand the scale, one must see the resort not as a leisure park but as a multi-sector economic city. At its heart lies a nine-hole golf course built across hills, slopes and a bridge that spans a water channel—challenging terrain that meets international sporting standards.

Around it radiate villas, apartments, banquet halls, exhibition galleries, sports complexes, retail spaces and waterfront attractions. This is urban planning within a single perimeter.

Additionally, the economic projections are striking. When fully operational, the resort is expected to generate between ₦22 and ₦27 billion annually in internally generated revenue. In an era where subnational governments struggle with fiscal sustainability, this single development could significantly strengthen the state’s revenue base and foreign exchange inflows through tourism and events.

But macroeconomics often hides the human pulse. During construction alone, about 2,000 direct jobs were created, with an estimated 10,000 indirect engagements across supply chains. If each worker supports an average family of four, the livelihood impact extends to tens of thousands. Bricklayers, welders, ICT experts, gardeners, food vendors, POS operators—an entire micro-economy found oxygen.

Expressing her excitement about the all-in-one project, Grace Etim, a food vendor at the site confided thus: “I used to worry about feeding my children,” . “Now, lunch hour feels like harvest time.” Another artisan admitted candidly that steady site work kept many young men away from destructive paths. Development, in this sense, became a social stabiliser.

Significantly, the execution leaned heavily on local content. No expatriates dominated the workforce. Nigerian professionals—about 75 percent from Akwa Ibom—interpreted, developed and delivered the governor’s vision. It is infrastructure built by indigenous competence, reinforcing confidence in local capacity.

At the resort, power is not an issue as energy sustainability forms another pillar that makes the center unique and distinctively different. A 1.5-megawatt solar farm powers the complex, complemented by a dedicated public electricity line and standby generators. This layered power architecture reduces vulnerability and aligns with global hospitality standards where uninterrupted service is non-negotiable.

Again, security and institutional presence further reinforce investor confidence. With a police post, fire service station, clinic, pharmacy, bank, and 24/7 CCTV control room, the resort functions like a self-contained municipality. It is leisure fused with governance infrastructure—order embedded within recreation.

The artificial lake, stretching about 2.6 kilometres in its expanded design, introduces aquatic tourism—floating bars, canoe rides and planned electric boats. Waterfront dining and landscaped walkways extend over 1.5 kilometres, encouraging family recreation and wellness culture. It is environment curated as experience.

Sports tourism is another strategic layer. Beyond golf, other sporting activities that will take place at the resort include football, tennis, basketball, volleyball, badminton, squash, bowling, gymnastics and yoga. With a 1,500-capacity banquet hall expandable toward 2,000 seats and six breakout rooms, the resort positions Uyo as a conference and events destination capable of hosting national and international gatherings.

Quite commendable is the proximity of the resort to the Victor Attah International Airport. Delegates can land and arrive at a world-class leisure and conference environment within minutes. In tourism economics, accessibility determines viability. Here, geography cooperates with vision.

The residential component—20 luxury apartments (15 two-bedroom and five three-bedroom units) with smart-room features and curated services—signals long-stay hospitality potential. The Phase Two’s additional villas further amplify revenue streams and property value appreciation within the axis.

Critics may call it ambitious. Supporters may call it transformative. But its structural logic is undeniable: creating an attraction that multiplies value across sectors—agriculture (through food supply), transport, retail, entertainment, real estate and professional services. The multiplier effect is already visible in surrounding communities.

Importantly, the resort rebrands Uyo psychologically. Cities grow not only by population but by perception. A destination city attracts conferences, destination weddings, sporting tournaments and cultural festivals. Each event translates into hotel bookings, restaurant bills and transport fares.

How Governor Umo Eno Creating Cities Out Of A City

For Governor Umo Eno, this is more than bricks and landscaping. It is governance as place-making. By reclaiming a threatened terrain and converting it into a revenue-yielding asset, he demonstrates how leadership can create cities within cities—self-sustaining enclaves that relieve pressure on government finances while uplifting citizens.

Ultimately, the ARISE Palm Resort is a statement that development need not be incremental; it can be catalytic. From ravine to revenue hub, from erosion site to economic citadel, the transformation challenges conventional limits of subnational ambition.

In the final analysis, the ARISE Palm Resort is less about luxury and more about leverage. It leverages reclaimed land into revenue, recreation into employment, and vision into measurable economic value.

In doing so, it offers a template for how bold subnational leadership can indeed create cities out of a city—transforming geography into growth and aspiration into architecture. This is what the Arise Agenda of Governor Umo Eno represents- leadership with a human face.

Venerable Richard Peters is a Public Relations manager and writes from Uyo.