The Federal Government has launched the Renewable Asset Management Company (RAMCO) as part of efforts to ensure the sustainable management of Nigeria’s power infrastructure and prevent 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 senior government officials, including the Ministers of Education, Dr Tunji Alausa; State for Health and Social Welfare, Dr Iziaq Salako; and representatives of the Ministry of Finance, as well as officials of the Rural Electrification Agency (REA), Ministry of Finance Incorporated (MoFI) and the Infrastructure Corporation of Nigeria (Infracorp).

‎Speaking at the event, the Minister of Power, Joseph Tegbe, said RAMCO would protect existing infrastructure, optimise power assets and ensure that investments in the sector continued to deliver value and sustained services.

‎Tegbe said RAMCO was part of the government’s broader power sector reform agenda, which includes grid stabilisation, improving sector liquidity and aggregating power assets to support industrial and economic development corridors.

‎“Our ambition is bigger than ending darkness,” Tegbe said, explaining that the government aimed to use electricity to drive manufacturing, expand digital infrastructure, improve healthcare delivery, modernise agriculture and create greater economic opportunities in rural communities.

The minister commended President Bola Ahmed Tinubu for supporting financially sustainable and institutionally durable models such as RAMCO. He also acknowledged the contributions of MoFI, Infracorp, REA, the Ministry of Finance and the Ministry of Health and Social Welfare through the Power for Health Initiative.

‎Earlier, the Managing Director and Chief Executive Officer of REA, Dr Abba Aliyu, said RAMCO had been under consideration for several years but gained momentum following Tegbe’s directive for its implementation. Aliyu said REA had deployed 82 megawatts of solar hybrid generation across 22 federal universities and three teaching hospitals under its Energising Education Programme since 2017, stressing the need for sustainable financing to maintain the assets.

The Federal Ministry of Power reaffirmed its commitment to delivering stable, reliable and sustainable electricity to Nigerians, saying it would continue to work with relevant agencies, stakeholders and development partners to ensure the successful implementation of RAMCO and the broader reforms of the power sector.