A power sector professional and Managing Director/CEO of Idfon Power Engineering Consultants Limited, Idowu Oyebanjo, has called on President Bola Ahmed Tinubu to ensure the successful establishment and implementation of the proposed Grid Asset Management Company (GAMCO), describing it as a critical step toward fixing Nigeria’s long-standing electricity challenges.
In an open letter addressed to the President, Oyebanjo outlined persistent inefficiencies in Nigeria’s power sector, noting that despite an installed generation capacity of over 13,000 megawatts, the national grid rarely delivers more than 4,500–5,000MW to consumers.
He identified weak transmission infrastructure as a major bottleneck, which has left significant volumes of electricity stranded across government-owned power plants.
GAMCO Positioned As Key Solution
Oyebanjo described GAMCO as a strategic intervention by the Federal Government aimed at addressing structural gaps in the electricity value chain.
According to the proposal, the company will operate under the Ministry of Finance Incorporated as a commercial infrastructure entity focused on upgrading transmission networks and unlocking unused power capacity.
A pilot project targeting the Benin–Lagos transmission corridor is expected to play a central role.
“If implemented meritoriously, the project could unlock approximately 1,600MW of currently stranded electricity within 18–24 months, resulting in about a 30–35% increase in available power supply to the national grid.”
He added that such improvements would significantly reduce the frequency of grid collapses and enhance electricity supply to Nigeria’s industrial hubs.
Funding, Governance and Private Sector Role
Oyebanjo emphasised that mobilising capital must remain GAMCO’s primary focus, noting that inadequate funding continues to limit expansion and maintenance across the power sector.
He proposed a Public-Private Partnership governance structure, combining government ownership with private sector expertise.
“Mobilization of Capital should be GAMCO’s prime mission, since the key issue in the sector is lack of funding for expansion, upgrade, and maintenance.”
He also stressed the importance of financial discipline and project viability.
“In this regard, all investments by GAMCO should be technically, financially, and commercially justified through a systematic approach before funding is approved by the Board of GAMCO.”
He added that transparency, competitive bidding, and strong oversight mechanisms would be critical to the company’s success.
Focus on Transmission and Distribution Gaps
While transmission upgrades are central to the plan, Oyebanjo warned that improvements must be matched by stronger distribution networks.
“Transmission improvements alone will not guarantee increased electricity delivery.”
He called for close coordination between key stakeholders, including generation companies, distribution companies, and regulatory agencies, to ensure that additional power can be effectively delivered to end users.
Economic and Industrial Impact
Oyebanjo highlighted the broader economic benefits of improved electricity supply, particularly for industrial centres such as Lagos and Ogun states.
According to him, increased power availability would boost productivity, create jobs, and support long-term economic growth.
He also noted that the initiative could attract private investment and strengthen Nigeria’s energy infrastructure.
Call for Professional Leadership and Accountability
Oyebanjo stressed that GAMCO must be led by experienced professionals with deep knowledge of Nigeria’s power sector.
He recommended that project management teams be made up largely of Nigerian engineers with proven expertise in power infrastructure development.
“We believe that to achieve this laudable objective, GAMCO must be led by a competent power system professional with over 20 years of cognate experience in the workings of the Nigerian power sector.”
He further called for the adoption of advanced monitoring systems, regular performance evaluations, and strict compliance frameworks to ensure accountability.
Final Appeal to the Presidency
In his concluding remarks, Oyebanjo urged the Tinubu administration to learn from past power sector reforms that failed to deliver lasting results.
“Mr. President sir, over the years, we have seen the Nigerian power industry deteriorate with negative impacts on the society all because the gains made along the way were not sustained.”
He expressed support for the government’s broader reform agenda but warned that the success of GAMCO would depend on proper execution, transparency, and long-term commitment.
“Your RENEWED HOPE AGENDA in the NESI will be fully realized when this project is implemented meritoriously.”
Oyebanjo, who signed the letter in his capacity as Managing Director/CEO of Idfon Power Engineering Consultants Limited, said the recommendations were aimed at ensuring sustainable and long-term transformation of Nigeria’s power sector.
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