FG Launches RAMCO to Safeguard Nigeria’s Power Assets, End Infrastructure Decay
The Federal Government has unveiled the Renewable Asset Management Company (RAMCO), a strategic initiative designed to ensure the sustainable management of Nigeria’s power infrastructure and prevent valuable assets from deteriorating after commissioning.
The initiative was launched in Abuja on Wednesday during the RAMCO Stakeholders’ Launch and Media Engagement Session, which brought together key government officials, regulators, development partners and industry stakeholders.
Among those present were the Minister of Education, Dr. Tunji Alausa; Minister of State for Health and Social Welfare, Dr. Iziaq Salako; Minister of Finance, Mr. Taiwo Oyedele, who was represented; Special Adviser to the President on Power, Lanre Babalola; Director-General of the Budget Office, Mr. Tanimu Yakubu; as well as the Chairmen and Chief Executive Officers of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and Infrastructure Corporation of Nigeria (Infracorp).
Speaking at the event, the Minister of Power, Joseph Tegbe, said RAMCO would protect existing investments, optimise power assets and ensure that every naira committed to energy infrastructure delivers sustainable value and reliable electricity services.
According to him, the initiative forms part of the Federal Government’s broader power-sector reforms, which include grid stabilisation, improving sector liquidity and aggregating energy assets to support industrial and economic development corridors.
“Our ambition is bigger than ending darkness,” Tegbe 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.”
The Minister commended President Bola Ahmed Tinubu for supporting financially sustainable and institutionally durable models such as RAMCO.
He also acknowledged the contributions of MoFI, Infracorp, the REA under its Managing Director/Chief Executive Officer, Dr. Abba Aliyu, the Ministry of Finance and the Ministry of Health and Social Welfare through the Power for Health Initiative.
Earlier, the REA MD/CEO, Dr. Abba Aliyu, said the concept of RAMCO had been under consideration for several years but remained largely an idea until the emergence of Tegbe as Minister of Power, who provided the necessary direction for its implementation.
Aliyu described the launch as a demonstration of the Minister’s clear vision and commitment to ensuring that investments in power infrastructure remain productive over the long term.
He cited the REA’s Energising Education Programme as a compelling example of the need for effective asset management. According to him, since 2017, the agency has deployed 82 megawatts of solar-hybrid power generation across 22 federal universities and three teaching hospitals.
He noted that the substantial investments in these projects must now be recovered through appropriate electricity tariffs to guarantee their continued operation and sustainability.
The Chairman of the REA Board, Ayo Fayose, also called for a fundamental change in Nigerians’ attitude towards the management and preservation of public assets.
The Federal Ministry of Power reaffirmed its commitment to delivering stable, reliable and sustainable electricity to Nigerians in line with President Tinubu’s Renewed Hope Agenda.
The Ministry said it would continue to work with government agencies, private-sector stakeholders and development partners to ensure the successful implementation of RAMCO and advance wider reforms aimed at transforming Nigeria’s power sector.