The Federal Government of Nigeria officially launched the Renewable Asset Management Company (RAMCO) to drastically expand national electricity supply, optimize green infrastructure, and mobilise up to ₦3 trillion in sector investments.
Speaking at the official stakeholders' engagement session in Abuja, Minister of Power Joseph Tegbe revealed that the government is targeting a power supply of 6,500 megawatts by December 2026 and 8,000 megawatts by 2027. Tegbe highlighted that RAMCO represents a structural shift toward a diversified energy architecture that integrates mini-grids, embedded generation, and energy storage alongside traditional grid power.
The initiative directly addresses Nigeria's long-standing failure to maintain publicly funded energy projects. Rather than continuously spending money on replacements, RAMCO introduces professional stewardship to protect long-term asset value.
“Nigeria has lived for too long with an embarrassing paradox: we are rich in power assets, energy resources and installed infrastructure, yet poor in availability of dependable electricity,” Tegbe stated, emphasising that renewable energy is no longer peripheral to the national strategy.
Incorporated under the Companies and Allied Matters Act, RAMCO operates as a partnership between the Ministry of Finance Incorporated (MOFI), the Rural Electrification Agency (REA), and InfraCorp. The company will contract competent operators, meter and bill consumers, and maintain reserved capital for major equipment replacements.
The Minister added that the ultimate goal extends beyond ending blackouts to driving broader industrialisation, agricultural modernisation, and economic growth.
