GAMCO Nigeria power: FEC approves Grid Asset Management Company, sparking debate over legality, role overlap, and TCN staff concerns
Controversy is trailing the Federal Executive Council’s approval of Grid Asset Management Company, GAMCO, aimed at addressing Nigeria’s national grid and blackout challenges.
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The FEC granted approval during its meeting on Wednesday.
Minister of Information and National Orientation, Mohammed Idris, said GAMCO’s establishment would strengthen the electricity transmission value chain, noting that transmission has been a key bottleneck in resolving the country’s power issues.
Experts in the electricity sector have raised concerns about duplication of roles with the Nigeria Integrated System Operator (NISO) and the Transmission Company of Nigeria (TCN), particularly amid the sector’s ongoing liquidity crisis.
Dr. Joy Ogaji, CEO of the Association of Power Generation Companies, questioned GAMCO’s legality under the Electricity Act, 2023, and its potential overlap with NISO and TCN operations.
Kunle Olubiyo, President of the Nigeria Consumer Protection Network, warned that the move could trigger massive job losses within TCN.
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The announcement comes as Nigeria experiences declining power supply, attributed by NISO to gas shortages, while GenCos and the Nigerian Labour recently clashed over a N6.6 trillion legacy debt in the sector.
