PRESIDENT Bola Tinubu has initiated moves to strengthen Nigeria’s power infrastructure with a proposal for legislation to create a Grid Asset Management Company (GAMCO), aimed at addressing persistent electricity supply challenges and recurring grid failures.

Briefing State House correspondents after the Federal Executive Council (FEC) meeting chaired by the President, Minister of Information and National Orientation, Mr Mohammed Idris, disclosed that the council considered and endorsed a memo seeking the establishment of GAMCO.

To drive the process, FEC constituted an inter-ministerial committee made up of the Minister of Power, Minister of State for Gas, Minister of Works, Minister of Finance, Chairman of the Nigerian Revenue Service, and the Minister of Science and Technology. The panel is expected to develop a seamless framework for setting up the proposed company and may co-opt additional stakeholders where necessary.

According to Idris, the initiative is designed to curb frequent grid collapses and introduce stronger regulatory oversight for the national grid. He noted that investments already made by operators in the sector would be taken into account as the government works to stabilise and reposition the electricity market.

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He linked the reform to broader economic improvements, pointing out that Nigeria’s foreign reserves have risen above $50 billion, the highest level in over 8 years, while inflation, including food inflation, is trending downward. The president, he said, believes that sustainable industrialisation is impossible without a functional power sector, hence the urgency behind the GAMCO proposal.

The minister added that the process remains ongoing, with relevant laws and regulatory requirements under review. Once finalised, the proposal will be forwarded to the National Assembly for legislative action where required.

Benefit scheme for civil servants

In a separate decision, FEC approved the implementation of an additional exit benefit scheme for civil servants in treasury-funded ministries, departments, and agencies under the Contributory Pension Scheme. Idris explained that the new arrangement would provide retiring workers with up to 100 percent of their total emoluments as additional exit benefits, in line with Section 4(4) of the Pension Reform Act.

He described the move as part of a broader civil service reform agenda aimed at boosting morale and enhancing productivity within the public sector.

Tertiary institutions

Meanwhile, the Federal Government has imposed a six-year moratorium on the establishment of new tertiary institutions across the country. Minister of Education, Mr Olatunji Alausa, said the decision was informed by the need to prioritise quality over expansion.

Alausa explained that while a temporary suspension had earlier been placed on private universities, the new directive extends to all tertiary institutions, including universities, polytechnics, and colleges of education.

He argued that access to tertiary education is no longer Nigeria’s primary challenge, citing the large number of existing institutions. According to him, data from the Joint Admissions and Matriculation Board (JAMB) showed that out of 2.3 million applicants last year, nearly 228 universities recorded fewer than 50 applicants each.

The minister noted that with industrial disputes in public universities largely resolved, enrolment patterns are expected to shift, potentially affecting private institutions. He stressed the need to protect investors in the education sector by ensuring sustainability while simultaneously improving academic standards across both public and private institutions.

In another development, FEC approved the restoration of the National Commission for Mass Literacy, Adult and Non-Formal Education to its former status as a commission. The agency had earlier been downgraded to a department within the Ministry of Education.

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Alausa said the reversal aligns with the administration’s target of making over 50 million Nigerians digitally literate within the next 2 to 3 years. He argued that retaining the body as a mere department would undermine its capacity to deliver on this ambitious agenda.

The minister disclosed that Nigeria currently has about 56 million illiterate citizens, a situation the government considers unacceptable. He said the commission plays a crucial role in adult education, particularly in rural communities, using platforms such as radio, television, advocacy programmes, and dedicated learning centres.

With its reinstatement, the commission is expected to intensify efforts to tackle illiteracy and expand digital literacy programmes nationwide.