By Ayomide Otitoju
The Federal Government has launched the Renewable Asset Management Company (RAMCO) to ensure the sustainable management of Nigeria’s power infrastructure and prevent the deterioration of 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 and heads of key agencies, including the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and Infrastructure Corporation of Nigeria (Infracorp).
Minister of Power, Joseph Tegbe, said RAMCO would protect existing infrastructure, optimise power assets and ensure investments in the sector continue to deliver sustainable services.
Tegbe said the initiative formed part of broader reforms aimed at stabilising the national grid, improving liquidity in the electricity sector and aggregating power assets to support industrial and economic development.
“Our ambition is bigger than ending darkness,” the minister said, adding that the government wanted electricity to drive manufacturing, digital infrastructure, healthcare, agriculture and rural development while creating a commercially viable power industry capable of attracting domestic and international investment.
The minister commended President Bola Ahmed Tinubu for supporting financially sustainable and institutionally durable models such as RAMCO, while acknowledging the contributions of MoFI, Infracorp, REA, the Ministry of Finance and the Ministry of Health and Social Welfare.
Earlier, REA Managing Director and Chief Executive Officer, Dr Abba Aliyu, said RAMCO had been under consideration for several years but only moved from concept to implementation after Tegbe assumed office and directed its execution.
Aliyu cited the REA’s Energising Education Programme as a key example of the need for effective asset management. He said the agency had deployed 82 megawatts of solar hybrid generation across 22 federal universities and three teaching hospitals since 2017, adding that the investment now needed to be sustained through appropriate electricity tariffs.
REA Board Chairman, Ayo Fayose, also called for a change in Nigerians’ attitude towards the management and maintenance of public assets.
The Ministry of Power reaffirmed its commitment to delivering stable, reliable and sustainable electricity nationwide, saying it would work with relevant government agencies, stakeholders and development partners to ensure the successful implementation of RAMCO and broader power-sector reforms.
