The Minister of Power, Engr. Joseph Olasunkanmi Tegbe, has unveiled the Renewable Asset Management Company (RAMCO) in Abuja, signalling a major shift in the Federal Government’s approach to managing Nigeria’s power infrastructure.
Tegbe said RAMCO was established to end the longstanding cycle in which infrastructure receives attention at commissioning but gradually declines thereafter, stressing that the true measure of an energy project is sustained performance—not the ribbon-cutting ceremony.
According to the Minister, RAMCO will institutionalise professional asset stewardship, stronger governance and measurable performance, with a mandate to protect existing investments, optimise infrastructure and ensure that every naira committed to the power sector delivers lasting value.
Tegbe said the administration’s ambition extends beyond ending electricity shortages, noting that reliable power must become a foundation for industrialisation, digital infrastructure, healthcare delivery, modern agriculture and expanded economic opportunities in rural communities.
He attributed the milestone to the leadership of President Bola Ahmed Tinubu, GCFR, while acknowledging the collaboration of the Ministry of Finance Incorporated (MoFI), Infrastructure Corporation of Nigeria (Infracorp) and the Rural Electrification Agency (REA).
The launch positions RAMCO as a potentially significant instrument in the Federal Government’s broader effort to transform Nigeria’s power infrastructure from assets that are merely commissioned into assets that are professionally managed, productive and sustainable.
