Nigeria launches RAMCO to manage renewable energy assets

The Nigerian Federal Government has launched the Renewable Asset Management Company (RAMCO) to manage and sustain publicly funded renewable energy infrastructure. The initiative aims to prevent the deterioration of energy assets following their commissioning, a problem identified by the Rural Electrification Agency (REA).

Abba Aliyu, MD/CEO of the REA, noted that an assessment of seven previous projects showed only three remained in usable condition due to a lack of sustainable maintenance and revenue mechanisms. RAMCO is designed to professionally manage these assets, contract competent operators, and implement metering and billing systems to ensure long-term viability.

The company will focus on renewable energy installations at 25 public institutions, including federal universities and teaching hospitals. By collecting electricity tariffs, RAMCO intends to create predictable revenue streams that can attract private capital and reduce the sector's reliance on government budgets and sovereign borrowing.

Minister of Power Joseph Tegbe stated that the move is part of a broader reform agenda to stabilize the grid and use electricity to drive economic prosperity, manufacturing, and digital infrastructure. The launch involved collaboration between the Ministry of Power, Ministry of Finance, Ministry of Education, and the Ministry of Health and Social Welfare.