Energy
FG Launches RAMCO to Prevent Renewable Power Projects from Deteriorating
The Federal Government has launched a new company to manage renewable energy infrastructure after commissioning, in an attempt to prevent publicly funded power projects from deteriorating because of poor maintenance and weak revenue systems.
The Renewable Asset Management Company (RAMCO) was launched in Abuja on Wednesday by the Rural Electrification Agency (REA), with the government saying it will take responsibility for the operation, maintenance and financial sustainability of renewable energy assets.
The initiative comes as Nigeria tries to improve electricity supply while tackling long-standing problems with ageing infrastructure, inadequate maintenance and shortages of investment across the power sector.
Power Minister Joseph Tegbe said RAMCO would initially focus on renewable energy assets but could eventually expand its model to the wider electricity grid.
“Our ambition is bigger than ending darkness,” Tegbe said. “Our ambition is to use electricity to build prosperity: to make Nigeria competitive for manufacturing; to power the next generation of digital infrastructure; to provide reliable electricity to our hospitals; to modernise agriculture; to expand opportunity in rural communities; and to build an electricity industry capable of attracting domestic and international capital on its own commercial merits.”
Why is the government creating RAMCO?
The immediate problem is not simply building more power infrastructure. It is keeping existing projects working after governments have spent money to construct them.
REA Managing Director Abba Aliyu said the agency had deployed 82 megawatts of solar-hybrid generation across 22 federal universities and three teaching hospitals through the Energising Education Programme since 2017.
But he said an assessment of seven projects delivered during the programme’s first phase found that only three remained in good or usable condition.
Aliyu attributed the deterioration to the absence of sustainable maintenance arrangements, reliable revenue mechanisms and a dedicated institution responsible for managing the assets throughout their economic lives.
That finding gives RAMCO a more specific purpose than simply adding another institution to the power sector.
The company is expected to manage the assets, appoint operators, meter electricity use, bill beneficiaries, collect payments and provide funds for maintenance and replacement of equipment.
“RAMCO’s mandate is straightforward: manage publicly financed renewable energy assets professionally; contract competent operators; meter, bill and collect; maintain sustainability of all this equipment,” Aliyu said.
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Universities and hospitals will have to pay
One of the most significant changes for institutions using the renewable energy projects is that they will be expected to pay for the electricity they consume.
Aliyu said the payments would help cover the cost of operating, maintaining and eventually replacing equipment such as batteries and inverters.
“If a battery or inverter requires replacement, we shouldn’t return to the Ministry of Finance. We should be able to have an economic fund to replace that battery or inverter. The money should already be there, and the deployment has to start today,” he said.
The government has not presented the arrangement as a conventional profit-making electricity business.
Instead, Aliyu said the tariffs should cover the cost of keeping the systems operational and replacing components when they reach the end of their useful lives.
That means the success of RAMCO will partly depend on whether beneficiary institutions can afford and consistently pay the tariffs.
It also raises a question about accountability: how much will institutions pay, how will tariffs be calculated and how will the public know that the money collected is actually being used to maintain the assets?
REA said it would work with beneficiary institutions, the National Universities Commission, the Ministries of Education and Health and the Budget Office to establish payment arrangements.
Evidence from existing projects
The case for the new model is not limited to concerns about neglected infrastructure.
REA says some of the renewable projects have already delivered measurable savings.
Aliyu cited the solar plant at Alex Ekwueme Federal University, Ebonyi, which he said has served more than 9,500 staff and students since it was commissioned in 2019.
According to him, the plant generated about ₦1.8bn in combined savings from avoided diesel purchases and electricity bills during its first five years, while preventing about 2,367 tonnes of carbon emissions.
However, the wider EEP experience also shows why construction alone does not guarantee long-term electricity supply.
REA’s own programme documents describe the Energising Education Programme as an effort to provide reliable and sustainable electricity to federal universities and teaching hospitals. The programme was approved in 2016 and was designed to reach 37 federal universities and seven teaching hospitals.
Later phases have involved the World Bank and African Development Bank, with projects including solar plants, distribution upgrades and renewable-energy training centres.
RAMCO is therefore an attempt to address the part of the infrastructure cycle that comes after construction.
A wider power-sector reform
The announcement also comes at a time when the Federal Government is pursuing several power-sector reforms at once.
In January, the government raised ₦501bn through the first tranche of its power-sector bond programme to address verified legacy debts owed across the electricity value chain. The government said those debts had constrained liquidity and discouraged investment.
In April, the Presidency said ₦3.3tn in power-sector obligations accumulated between February 2015 and March 2025 had been agreed for settlement, with ₦223bn already disbursed at the time of the announcement.
The government has also said it is investing in grid stabilisation to tackle transmission bottlenecks, ageing infrastructure and recurring system collapses.
The International Monetary Fund has identified electricity-sector liquidity and the gap between tariffs and the cost of supplying power as major issues requiring reform. It also reported that electricity-sector arrears stood at about 0.75% of Nigeria’s GDP at the end of 2025.
RAMCO therefore fits into a broader attempt to move the electricity industry towards more financially sustainable operations.
Government targets remain ambitious
Tegbe has linked RAMCO to the government’s wider ambition to increase the amount of electricity that can actually reach consumers.
He said Nigeria is currently struggling to wheel about 5,000MW and set a target of 6,500MW by the end of 2026 and 8,000MW by the end of 2027.
Those targets will depend on more than generation capacity.
Transmission constraints, distribution infrastructure, gas supply, electricity-market liquidity and the ability of customers to pay for power will all influence how much electricity ultimately reaches homes and businesses.
Tegbe said the government therefore wants to measure progress not only by megawatts generated but also by reliability and sustainability.
“RAMCO will not only be measured by how many megawatts you deliver but also the reliability of your delivery and the sustainability of that delivery,” he said.
What could RAMCO mean for Nigerians?
For students and patients, the immediate potential benefit is more dependable electricity at universities and teaching hospitals that receive the renewable-energy projects.
For government, the attraction is reducing the need to return repeatedly to the national budget whenever publicly funded equipment requires repairs or replacement.
For private investors, the government hopes professionally managed assets with predictable revenue streams could eventually be bundled together and used to attract additional capital.
But the risks are equally important.
If tariffs are set too high, beneficiary institutions could struggle to pay. If they are set too low, RAMCO could face the same funding problem it was created to solve.
The company will also need transparent procurement, accurate metering, effective collection systems and independent performance monitoring if it is to avoid becoming another layer of bureaucracy.
The test is implementation
REA said it will first complete valuation and technical assessments of existing renewable assets before transferring them into the RAMCO structure and establishing operation and maintenance arrangements.
The agency also plans to work with the relevant institutions to establish tariff and payment mechanisms.
REA Board Chairman Ayodele Fayose has called for a change in the way Nigerians approach the management of public assets, while MoFI has said it has developed a verified register of federal government projects and warned about the history of completed projects being abandoned because of poor maintenance.
The launch, therefore, marks the beginning rather than the conclusion of the policy.
The real test will be whether RAMCO can keep existing renewable-energy projects operational, collect enough revenue to maintain them and provide Nigerians with evidence that public investment in electricity infrastructure can survive beyond the commissioning ceremony.
A new hybrid solar power installation commissioned for La Chaumiere Group in Lagos is expected to cut the hospitality company’s reliance on diesel generators by about 57,000 litres a year, according to the project’s developer, JMG Limited.
JMG said the system, installed through its solar division, combines 133.12kWp of solar photovoltaic capacity with 160kW hybrid inverters and 163.84kWh of high-voltage lithium battery storage.
The company estimates that the system will generate about 210.86MWh of electricity annually and save La Chaumiere more than ₦102 million a year in diesel-related costs.
The figures have not been independently verified by NigeriaUpdates and represent projections provided by JMG.
Why the project matters
Reliable electricity remains a major operating concern for businesses in Nigeria, particularly hospitality companies whose operations depend on refrigeration, lighting, kitchen equipment, air conditioning and other power-intensive services.
For restaurants and other customer-facing businesses, prolonged power interruptions can affect both operating costs and the consistency of services offered to customers.
The La Chaumiere project combines solar generation with battery storage and hybrid inverters, allowing excess solar energy to be stored for later use and providing an alternative to relying solely on diesel generators.
JMG said the system is designed to supply most of the group’s daily energy requirements.
From diesel dependence to hybrid power
La Chaumiere Group operates several hospitality concepts, including fine dining restaurants, Lebanese and Syrian cuisine outlets, specialty coffee destinations and handcrafted popsicle brands.
JMG said the new installation was designed following load analysis and energy modelling using Fluke Load Analyzer and PVsyst simulation software.
The system uses LONGi solar modules, Deye hybrid inverters and Deye high-voltage lithium battery storage.
According to JMG, the combination is intended to provide energy management, backup power and greater operational efficiency.
The company estimates that the installation could prevent more than 76 tonnes of carbon dioxide emissions annually.
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The economics behind the switch
The projected ₦102 million annual fuel saving is one of the most significant claims attached to the project.
If achieved, the saving could help reduce one of the recurring costs faced by businesses that depend heavily on diesel-powered generators.
However, the actual financial benefit will depend on factors including electricity consumption, diesel prices, equipment performance, maintenance costs and the proportion of the group’s energy demand ultimately supplied by the solar-battery system.
JMG did not disclose the total cost of installing the system or provide a projected payback period in the statement announcing the commissioning.
JMG: Hospitality businesses need reliable power
Hussein Abbas, Head of Solar Division at JMG, said the project showed how hybrid energy systems could help hospitality businesses manage their energy requirements.
“Hospitality businesses rely on uninterrupted power to deliver exceptional customer experiences every day. Our partnership with La Chaumiere Group demonstrates how intelligent hybrid energy systems can dramatically reduce operating costs while providing the reliability and sustainability modern businesses require.”
The project forms part of JMG’s wider push to provide hybrid renewable energy systems for businesses seeking alternatives to conventional generator-dependent power arrangements.
What it could mean for businesses
The project highlights a broader question for Nigerian businesses: how far can renewable energy and battery storage reduce dependence on diesel while keeping operations running consistently?
For businesses with predictable daytime electricity demand, solar can reduce generator use during periods of adequate sunlight. Battery storage can then provide additional flexibility when solar generation falls or when power is required outside peak sunlight hours.
The effectiveness of such systems, however, depends on the size and pattern of a business’s electricity demand, the quality of the installation and the economics of the alternative power sources.
For La Chaumiere, JMG said the immediate target is to combine cleaner electricity generation with lower fuel consumption and more resilient power supply.
What’s next
JMG said it remains focused on delivering turnkey hybrid energy solutions for businesses seeking to reduce operating costs and improve energy security.
The La Chaumiere installation will therefore provide a practical test of how much a hospitality business can shift away from diesel generation when solar generation, battery storage and conventional backup power are integrated into a single energy system.
The chairman and chief executive officer of BOCA Energy Resources Limited, James Ukachukwu, is set to receive the Energy Man of the Year Award at the 2026 Momentous Magazine Personality Awards (MOPA).
The recognition places the BOCA chairman among individuals being honoured for their contributions to their respective sectors, with the organisers citing his leadership and activities within Nigeria’s energy industry.
Rather than being limited to an individual corporate honour, the award comes as BOCA continues to build its profile across Nigeria’s oil, gas, energy and technology space.
From energy services to wider corporate recognition
BOCA Energy Resources Limited is an indigenous Nigerian company involved in engineering, procurement, construction and project management services for the oil, gas and energy sectors.
Its listed services include engineering and procurement, construction and fabrication, pipeline and flowline installation, specialised oilfield services, supply-chain and procurement solutions, as well as geotechnical and geophysical services.
The company has also positioned innovation, safety, quality and sustainability as part of its stated approach to delivering infrastructure and energy-related projects.
The MOPA recognition therefore adds to a series of industry acknowledgements received by Ukachukwu and companies within the BOCA Group during 2026.
Award follows NUJ Lagos recognition
Earlier in 2026, BOCA Energy Resources Limited and BOCA IT Systems Limited received awards during the Nigeria Union of Journalists, Lagos State Council Correspondents’ Chapel Press Week.
The recognitions included Business Titan/CEO of the Year and Most Innovative Energy and Technology Solution Providers, according to reports from the event.
Ukachukwu also served as chairman of the occasion, where discussions touched on the relationship between credible journalism, responsible business leadership and national development.
Speaking through his representative, Reginald Ofoegbu, Ukachukwu said:
“If crude oil powers economies and technology powers innovation, then credible journalism powers democracy. Without trustworthy information, societies drift; with it, nations progress.”
He also stressed the importance of credibility and public trust, arguing that both journalism and business depend on confidence from the public and other stakeholders.
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Why the recognition matters
Nigeria’s energy industry remains a major part of the country’s economy, while local companies continue to seek opportunities across engineering, construction, technology and specialised oilfield services.
For indigenous firms such as BOCA, recognition from professional, media and industry platforms can also contribute to corporate visibility at a time when companies are competing for projects, partnerships and investment.
However, awards alone do not measure the performance or wider impact of an energy company. Such assessments would ordinarily require consideration of factors including project delivery, safety records, regulatory compliance, employment, environmental performance and value created for clients and communities.
The MOPA award is therefore best viewed as recognition from the organisers rather than an independent assessment of BOCA’s overall performance.
What the MOPA award represents
The Momentous Magazine Personality Awards are organised by Momentous Magazine and have previously recognised individuals and organisations across different sectors.
In 2023, for example, the awards recognised RedGecko PR as Outstanding PR Agency, with MOPA convener and Momentous Magazine chief executive officer, Pastor Sesan Awobiye, saying the platform was established to recognise excellence and improved service delivery across society.
The 2026 award to Ukachukwu is expected to further highlight his profile within the Nigerian energy and business community.
A statement from BOCA leadership is expected after the presentation of the award.
What comes next
For Ukachukwu and BOCA, the significance of the latest recognition will ultimately depend on how the company translates its stated focus on innovation, safety and sustainable development into measurable outcomes across its operations.
The award ceremony is expected to provide an opportunity for the company to outline its priorities and direction within Nigeria’s changing energy landscape.
About BOCA Energy Resources Limited
BOCA Energy Resources Limited is an indigenous Nigerian energy company providing engineering, procurement, construction, project management and specialised services across the oil, gas and energy sectors.
Its stated service areas include EPC, engineering and project management, specialised oilfield services, fabrication, construction and maintenance, supply-chain and procurement services, and geotechnical and geophysical solutions.
JMG Limited’s Clima division and global HVAC company Trane Technologies used the 2026 Big 5 Construct Nigeria exhibition in Lagos to engage construction industry stakeholders over the growing need for reliable, energy-efficient cooling systems.
The three-day exhibition, held from September 22 to 24, brought together professionals, businesses and other stakeholders in Nigeria’s construction and building sector.
Rather than focusing solely on equipment displays, JMG Clima said its participation was aimed at understanding the cooling requirements of developers, businesses and other users while creating potential commercial opportunities.
Cooling demand meets construction growth
Cooling systems are an important component of modern residential, commercial and industrial buildings, making HVAC technology increasingly relevant to developers and building professionals.
At Big 5 Construct Nigeria, JMG Clima showcased air-conditioning and cooling solutions from its partner, Trane Technologies, and held discussions with visitors about technical requirements, system performance and energy efficiency.
The company said the conversations provided insights into the changing expectations of businesses and developers seeking cooling systems that can support comfort and operational efficiency.
The exhibition also enabled the JMG Clima and Trane teams to engage with existing partners and prospective customers.
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New business leads emerge
JMG said discussions at the exhibition generated new business leads, which have been passed to the sales teams of both JMG Clima and Trane for follow-up.
The company described the leads as part of the wider commercial value of participating in industry exhibitions, where potential customers can discuss project-specific requirements directly with technical and sales personnel.
JMG said its approach combines equipment supply with technical expertise, customer support and services intended to meet the requirements of individual projects.
Beyond product displays
The JMG-Trane partnership was also presented as a route for bringing Trane’s cooling technology to more businesses and projects in Nigeria.
JMG said its Clima division would continue working with Trane Technologies to provide cooling solutions for residential, commercial and industrial applications.
The company’s participation at Big 5 Construct Nigeria comes as construction stakeholders increasingly consider not only the initial cost of building systems but also their reliability, performance and energy requirements over the life of a project.
For prospective customers, the discussions at the exhibition could therefore translate into further consultations as the sales teams follow up on the leads generated during the event.
What happens next?
JMG said the leads and contacts established during the exhibition have been handed to its sales teams and Trane for further engagement.
The next stage will be determining the specific requirements of potential customers and whether the solutions showcased at the exhibition are suitable for their individual projects.
For the wider construction industry, the conversations highlight the importance of incorporating cooling requirements into building decisions rather than treating air-conditioning systems as an afterthought.
NigeriaUpdates will continue to follow developments in Nigeria’s construction, building-services and HVAC sectors.
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