By Abdullahi Lukman
The Federal Government has launched the Renewable Asset Management Company (RAMCO) as part of efforts to improve electricity supply through the wider deployment and sustainable management of renewable energy infrastructure across Nigeria.
Minister of Power, Joseph Tegbe, said the initiative was designed to improve the performance of renewable energy assets, attract private investment and ensure electricity is delivered reliably to communities, businesses and public institutions.
Tegbe disclosed this on Wednesday at the launch of RAMCO and a stakeholders’ media engagement session, describing renewable energy as an increasingly important pillar of Nigeria’s electricity strategy.
He said the government was pursuing a diversified power system that would combine grid electricity with embedded generation, interconnected and isolated mini-grids, distributed renewable energy and storage technologies tailored to the needs of different communities and economic clusters.
According to the minister, deploying renewable assets closer to areas of demand would improve electricity access, strengthen public institutions and increase the resilience of the national power system.
Tegbe said RAMCO was part of broader power-sector reforms aimed at ensuring the efficient and sustainable management of electricity infrastructure and creating a stronger link between public investment, infrastructure development and private capital.
He said the company would focus on preserving the value of renewable assets, improving their uptime, establishing transparent performance standards and enforcing effective maintenance and replacement programmes.
The minister stressed that RAMCO’s performance should not be judged by the number of assets under its management, but by how many remain operational, the reliability of electricity supplied and the volume of new investment attracted to the sector.
Tegbe noted that Nigeria had long faced the challenge of having substantial energy resources and installed power infrastructure without dependable electricity supply.
He said reliable power was essential to making the country more competitive in manufacturing, expanding digital infrastructure, improving healthcare, modernising agriculture and creating economic opportunities in rural communities.
The minister added that RAMCO would support efforts to attract domestic and international investment into Nigeria’s power sector on commercially sustainable terms, stressing that the government’s broader objective was to use reliable electricity as a driver of economic growth and prosperity.
