Nigeria launches Renewable Asset Management Company to protect energy infrastructure

Nigeria has launched the Renewable Asset Management Company (RAMCO) in Abuja to address the chronic decay of publicly funded energy infrastructure. The initiative aims to shift the country away from a pattern of commissioning and subsequently abandoning renewable energy projects toward a model focused on professional stewardship and lifecycle planning.

Driven by the Rural Electrification Agency (REA) in partnership with the Ministry of Finance Incorporated (MOFI) and Infracorp, and supported by the Ministry of Power, RAMCO is designed to ensure that solar and renewable energy installations in federal universities and teaching hospitals remain functional and deliver value over the long term. This intervention follows significant historical investments in Nigeria's electricity value chain, including thermal and hydro plants, and various rehabilitation programs backed by the World Bank.