By Peace Udugba
The Federal Government has launched the Renewable Asset Management Company (RAMCO), a new initiative aimed at ensuring the sustainable management of Nigeria’s power infrastructure and preventing the deterioration of assets after commissioning.
The initiative was unveiled in Abuja on Wednesday at the RAMCO Stakeholders’ Launch and Media Engagement Session, attended by 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 chairmen and chief executive officers of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and Infrastructure Corporation of Nigeria (InfraCorp), among others.
Speaking at the event, the Minister of Power, Joseph Tegbe, said RAMCO would protect existing investments, optimise power assets and ensure that public funds committed to energy infrastructure translate into sustained electricity services.
Tegbe said the initiative forms part of the Federal Government’s broader power sector reforms, covering grid stabilisation, improved sector liquidity and the aggregation of 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 viable and institutionally sustainable models such as RAMCO.
He also acknowledged the contributions of MoFI, InfraCorp, the REA under its Managing Director, Dr Abba Aliyu, the Ministry of Finance, and the Ministry of Health and Social Welfare through the Power for Health Initiative.
Earlier, Aliyu said the concept of RAMCO had been under consideration for several years but remained largely an idea until Tegbe assumed office and directed its implementation.
He described the launch as a demonstration of the minister’s clear direction and commitment to ensuring that investments in power infrastructure remain sustainable.
Aliyu highlighted the REA’s track record, noting that 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.
According to him, the investments now require effective revenue and tariff structures to ensure that the assets are maintained and remain financially sustainable.
The Chairman of the REA Board, Ayo Fayose, also called for a change in Nigerians’ attitude towards the management and protection of public assets.
The Federal Ministry of Power reaffirmed its commitment to delivering stable, reliable and sustainable electricity to Nigerians in line with the President’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 the broader reforms aimed at transforming Nigeria’s power sector.
