Managing Director/CEO of the Rural Electrification Agency (REA), Abba Aliyu, has described Renewable Asset Management Company (RAMCO) as the future of productive renewable energy asset utilisation in Nigeria. 


Speaking in Abuja at the launch of RAMCO, the REA MD explained that, rather than burdening the national treasury, RAMCO will instead unlock fresh private capital and revenue streams to ensure the long-term sustainability of off-grid infrastructure.


“RAMCO will reduce Nigeria’s dependence on government budgets, sovereign borrowing, and development finance to expand electricity access,” Aliyu said. 


He highlighted institutional continuity across both the Ministry of Power and the Agency as the foundation for bringing the initiative to fruition.


Aliyu said the new model would also enable existing renewable energy assets to generate predictable revenues that could be aggregated and potentially leveraged to attract private capital for additional infrastructure.


He added that RAMCO will enable capital deployed into mature renewable energy assets to be refinanced or recycled under robust commercial and regulatory frameworks, freeing up liquidity for new projects.

Beyond asset management, Aliyu said RAMCO would support Nigeria’s efforts to develop local renewable energy manufacturing capacity.


He said REA had entered into a joint development arrangement with MOFI and InfraCorp involving German manufacturers for the production of solar modules, batteries, inverters, street lighting equipment and solar asset recycling.

Delivering the keynote address, the Minister of Power, Chief Joseph Tegbe, stated that renewable energy is not a peripheral component in Nigeria’s energy mix. 


He announced that the government will build mini-grids in areas facing transmission deficits, emphasizing that RAMCO was established to deliver sustainability and reliability while bridging the gap between accessibility and long-term viability.

The minister disclosed that a technical audit is currently underway on infrastructure over 42 years old, noting that these outdated facilities will be replaced with modern assets in a matter of weeks. 

…FG targets 8, 000mw

The minister further revealed that the federal government is targeting power generation of 6,500mw by year end and 8,000mw by the end of 2026. 


He stated that 21 dormant dams will be put to productive use, noting that those identified along the Sokoto-Badagry expressway corridor will be made commercially viable.

“Public investment must be matched by discipline to protect the assets,” Tegbe stressed. 

He further tasked the Ministry of Finance Incorporated (MOFI) with prioritising grid and transmission assets, dispelling notions that these assets would be sold off and clarifying instead that they will be placed on a strong balance sheet to guarantee optimal utilization.


Chairman of the Rural Electrification Agency (REA), Ayodele Fayose, described RAMCO as the best thing to happen to Nigeria’s electricity sector.


Fayose commended the REA Managing Director and his management team for upholding a legacy of continuity. 


He noted that it is not enough to simply build new projects; their maintenance and operational continuity are equally critical.


Fayose also emphasized the need for a shift in public attitude, stating that infrastructure will last significantly longer when Nigerians adopt an ownership mindset and protect public utilities.