FG Launches RAMCO to Halt Decay of Nigeria’s Power Infrastructure

 FG Launches RAMCO to Halt Decay of Nigeria’s Power Infrastructure

The Federal Government has launched the Renewable Asset Management Company (RAMCO), a new initiative designed to ensure the sustainable management of Nigeria’s power infrastructure and prevent the deterioration of electricity assets after commissioning.

The initiative was unveiled in Abuja on Wednesday during the RAMCO Stakeholders’ Launch and Media Engagement Session, attended by senior government officials, including the Minister of Education, Dr Tunji Alausa; Minister of State for Health and Social Welfare, Dr Iziaq Salako; and representatives of the Ministry of Finance and other key institutions.

Also in attendance were the Special Adviser to the President on Power, Lanre Babalola; Director-General of the Budget Office, Tanimu Yakubu; as well as Board Chairmen and Chief Executive Officers of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and the Infrastructure Corporation of Nigeria (Infracorp), among others.

Speaking at the event, the Minister of Power, Joseph Tegbe, said RAMCO was established to protect existing investments in power infrastructure, optimise their performance and ensure that public and private investments in the sector translate into sustained electricity services.

Tegbe said the initiative formed part of the Federal Government’s broader power-sector reforms, which include efforts to stabilise the national grid, address sector liquidity challenges and aggregate power assets around industrial and economic corridors.

“Our ambition is bigger than ending darkness,” the minister said. “Our ambition is to use electricity to build prosperity: to make Nigeria competitive for manufacturing; to power the next generation of digital infrastructure; to provide reliable electricity to our hospitals; to modernise agriculture; to expand opportunity in rural communities; and to build an electricity industry capable of attracting domestic and international capital on its own commercial merits.”

He commended President Bola Ahmed Tinubu for supporting financially sustainable and institutionally durable models such as RAMCO, while also acknowledging the contributions of MoFI, Infracorp, the REA under its Managing Director/CEO, Dr Abba Aliyu, the Ministry of Finance and the Ministry of Health and Social Welfare through the Power for Health Initiative.

Earlier in his remarks, Aliyu said the concept of RAMCO had been under consideration for several years but remained largely an idea until Tegbe assumed office and directed its implementation.

He described the launch as evidence of the minister’s clear direction and commitment to addressing the long-standing challenge of maintaining public power infrastructure.

Aliyu cited the REA’s experience under the Energising Education Programme as a key justification for the new asset management model.

According to him, since 2017, the agency has deployed 82 megawatts of solar-hybrid generation capacity across 22 federal universities and three teaching hospitals.

He noted that the substantial investments in those projects must now be sustained and recouped through appropriate electricity tariffs to prevent the assets from deteriorating.

Also speaking, the REA Board Chairman, Ayo Fayose, called for a change in Nigerians’ attitude towards the management and preservation of public assets.

He stressed the need for greater responsibility and institutional mechanisms to ensure that infrastructure established with public funds continues to deliver value over its operational lifetime.

The Federal Ministry of Power reaffirmed its commitment to delivering stable, reliable and sustainable electricity to Nigerians in line with the Renewed Hope Agenda of the Tinubu administration.

The ministry said it would continue to collaborate with government agencies, development partners and other stakeholders to ensure the effective implementation of RAMCO and the broader reforms aimed at repositioning Nigeria’s electricity sector.

The launch of RAMCO is expected to provide a structured framework for the long-term management, optimisation and sustainability of renewable and other power assets, while helping to preserve investments and improve electricity service delivery nationwide.