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.

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“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.

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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.

Tax Dividends: President Tinubu Flags Off Key Road Projects To Unlock Economic Growth In Niger, Rivers

Tax Dividends: President Tinubu flags off key road projects to unlock economic growth in Niger, Rivers. President Bola Ahmed Tinubu has approved the immediate reconstruction of key roads in Niger State and Rivers State to enhance transportation, connectivity, trade, and overall development.

In a statement obtained by The Guardian on Friday, Senior Special Assistant to the Minister of Works (Media), Francis Nwaze, reported that the Minister of Works, David Umahi, listed the roads slated for reconstruction in Niger State, namely: Mokwa–Bida Road (120 km), Mokwa–Makeri Road (63 km), and Bida–Labata Road (123.5 km)

Additionally, President Tinubu approved the extension of the Bodo–Bonny Road in Rivers Stateto connect with the East–West Road.

“The project will be executed as a dual carriageway with concrete pavement and equipped with solar-powered street lighting. It will be delivered through a competitive bidding process,” Umahi said.

Road

He added that the three roads in Niger State, totalling 306.5 km, will be reconstructed using reinforced concrete pavement to ensure durability and long-term value.

Umahi expressed gratitude to President Tinubu for the strategic approvals, noting that the projects lie within critical national economic corridors and will significantly boost connectivity, trade, and socio-economic development.

The Minister also congratulated the governors and people of Niger and Rivers States, as well as all Nigerians who stand to benefit from the projects.

He urged citizens to continue supporting and praying for the President as the administration focuses on delivering the dividends of democracy.

Works Ministry Dismisses Allegations, Doubles Down On Performance

Works Ministry dismisses allegations, doubles down on performance. The Honourable Minister of Works, His Excellency, Senator Engr. David Umahi, CON, on Saturday, February 28, 2026, during an inspection tour of major infrastructure projects in the South East, addressed allegations circulating on social media by one TracyNither Ohiri.

Rejecting the claims, the Minister pointed to his long record in public service and leadership.

“I want to thank a lot of you who know me very well. As party chairman, I owe nobody and of course I presided over both men and women, and nobody ever said I harassed him/her or I owe him/her.”

Reflecting on his years in executive office, he added:

“I was deputy governor, governor for eight years, and I did fantastic in infrastructure. So nobody could come and say he’s been owed unless the person is being a mischievous.”

Addressing the online spread of the claims, the Minister showed neither anger nor defensiveness, describing such moments as familiar territory in public office.

“So what you read in social media, I’m not worried about it, It makes me stronger, and I’ve fought many battles, so this is nothing.”

In a lighter moment that drew laughter from those present, Umahi used humour to underline what he described as the implausibility of the allegations.

“There’s nothing wrong to say, oh, you, are chasing a woman but not anyhow person that will accuse this handsome man of chasing her for twelve years. That person must be the Queen of England. So, it’s just to make social media to be alive.”

Umahi

Beneath the humour, however, the message was clear: distractions will not divert his attention from national responsibility.

“But I think we can turn in our attention to the war in Iran now and then allow David Umahi to focus on his job.”

Francis Nwaze, FIPMD
Senior Special Assistant to the Honourable Minister of Works (Media)