Picnews
The Federal Government has launched the Renewable Asset Management Company (RAMCO) as part of efforts to ensure the sustainable management of Nigeria’s power infrastructure and prevent valuable assets from deteriorating after commissioning.
The initiative was unveiled in Abuja on Wednesday at a stakeholders’ launch and media engagement 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 Minister of Finance, Taiwo Oyedele, and other key stakeholders.
Also present 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 executives of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and Infrastructure Corporation of Nigeria (Infracorp).
Speaking at the event, Minister of Power, Joseph Tegbe, said RAMCO would help protect existing investments, optimise power assets and ensure that public funds committed to energy infrastructure translate into sustained electricity services.
Tegbe explained that the initiative forms part of the Federal Government’s broader power sector reform agenda, covering grid stabilisation, improved sector liquidity and the aggregation of energy assets to support industrial and economic corridors.
“Our ambition is bigger than ending darkness,” Tegbe said, stressing that the government’s goal is to use reliable electricity as a catalyst for economic growth and national development.
He said the government aims to make Nigeria more competitive in manufacturing, support digital infrastructure, improve electricity supply to hospitals, modernise agriculture and expand economic opportunities in rural communities.
According to the minister, the reforms are also designed to build an electricity industry capable of attracting domestic and international investment on commercially sustainable terms.
Tegbe commended President Bola Ahmed Tinubu for supporting financially viable and institutionally sustainable initiatives such as RAMCO. He also acknowledged the contributions of MoFI, Infracorp, REA, the Ministry of Finance and the Ministry of Health and Social Welfare through the Power for Health Initiative.
Earlier, the Managing Director and Chief Executive Officer of REA, Dr Abba Aliyu, said the concept of RAMCO had been under consideration for several years but only moved from planning to implementation following Tegbe’s directive.
Aliyu described the launch as evidence of the minister’s commitment to providing clear direction for the sustainable management of power assets.
He cited the REA’s Energising Education Programme as an example of the need for stronger asset management. Since 2017, the agency has deployed 82 megawatts of solar-hybrid power across 22 federal universities and three teaching hospitals.
Aliyu said the investments would require sustainable revenue through electricity tariffs to ensure the facilities remain operational and financially viable.
REA Board Chairman, Ayo Fayose, also called for a change in Nigerians’ attitude towards the management and preservation of public infrastructure, stressing the importance of collective responsibility in protecting government 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 collaborate with relevant government agencies, stakeholders and development partners to ensure the successful implementation of RAMCO and other ongoing reforms aimed at transforming Nigeria’s power sector.
