By JKNewsMedia
THE FEDERAL Government has launched the Renewable Asset Management Company (RAMCO) to ensure Nigeria’s power infrastructure remains sustainable and does not deteriorate after commissioning.
JKNewsMedia.com reports that 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; 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; and board chairmen and chief executives of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and Infracorp.
Speaking at the event, the Minister of Power, Joseph Tegbe, said RAMCO would protect existing investments, optimise power assets and ensure every naira invested in energy infrastructure delivers sustained service.
Tegbe said the company forms part of a wider reform agenda focused on grid stabilisation, sector liquidity and asset aggregation linked to industrial and economic 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 enabling financially sensible and institutionally durable models such as RAMCO.
He also acknowledged the collaboration of MoFI, Infracorp, the REA under Dr Abba Aliyu, 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 RAMCO had been under consideration for years but remained an idea until Tegbe assumed office and directed its execution.
Aliyu described the launch as a testament to the minister’s clear sense of direction, while pointing to REA’s track record as the case for establishing RAMCO.
He said the agency had deployed 82 megawatts of solar hybrid generation across 22 federal universities and three teaching hospitals since 2017 under its Energising Education Programme (EEP).
Aliyu said the investment now needs to be recouped through electricity tariffs to keep the assets sustainable.
The REA Board Chairman, Ayo Fayose, called for a change in attitude among Nigerians towards the management 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 working with relevant stakeholders, agencies and development partners to ensure the successful implementation of RAMCO and broader reforms in the Nigerian power sector.
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