Nigeria launches Renewable Asset Management Company to strengthen power infrastructure
pannigeriannews
2 min read
By Isaiah Adewole
The Federal Government has launched the Renewable Asset Management Company (RAMCO), a new institution aimed at professionalising the management of Nigeria’s power infrastructure and ensuring that energy assets continue to deliver value long after commissioning.
The Minister of Power, Joseph Olasunkanmi Tegbe, who announced the launch in Abuja, said RAMCO was established to address the longstanding challenge of power infrastructure deteriorating after completion, stressing the need to shift from celebrating project commissioning to ensuring sustained performance.
According to Tegbe, the new company will be driven by “stewardship, governance discipline and measurable performance,” with a mandate to protect existing infrastructure, optimise the assets already owned by the country and ensure that investments in the power sector translate into sustained services for Nigerians.
“For too long, we’ve measured success by ribbon-cuttings. RAMCO changes that,” the minister said.
He explained that the company would focus on ensuring that every naira invested in energy infrastructure produces lasting value, while strengthening accountability and efficiency in the management of power assets.
Tegbe said the Federal Government’s ambition extends beyond merely increasing electricity supply, noting that reliable power is critical to Nigeria’s broader economic transformation.
“Our ambition is bigger than ending darkness. It is to use electricity to build prosperity, to make Nigeria competitive for manufacturing, power the next generation of digital infrastructure, provide reliable electricity to our hospitals, modernise agriculture, and expand opportunity in rural communities,” he said.
The minister expressed appreciation to President Bola Ahmed Tinubu, GCFR, for his leadership and acknowledged the contributions of the Ministry of Finance Incorporated (MoFI), Infrastructure Corporation of Nigeria (Infracorp) and the Rural Electrification Agency (REA) towards the establishment of RAMCO.
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