Premium Business Event in Africa for Power, Renewable, Solar Energy and Electrical Industry
International Trade Fair, Conferences, Awards, Trade Delegations and Workshops
13-15 November 2024
Sarit Expo Centre, Nairobi, Kenya
Trade and Fair
Trade and Fair
Trade and Fair
Trade and Fair
Trade and Fair
Trade and Fair
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Currently, Nigeria generates 50 per cent of the installed capacity of 13.5GW.
The gap reflects power insufficiency. At present, only 45- 60 per cent of the Nigerian population is connected to the grid; but get about four hours of power supply.However, in the corporate sector, about 90 per cent depend on private generators to meet the power requirement. To address the acute shortage, the Federal Government of Nigeria has initiated investments in the solar power sector.
These reforms are ably aided by private investments. Privatizing the generation and distribution assets has helped significantly.
The country power peak demand is expected to touch 15GW by 2025.
The government aims to reach electricity to 90 per cent of the people in the country by 2030.
Though generation capacity has been increased through private investments, the actual power generation is lesser than the envisaged capacity. Also, the lack of transmission and distribution infrastructure is a major hurdle
As per a government communique, the country requires immediate funding of $40 billion in the generation, transmission and distribution segments. On its part, the government plans to invest $3 billion to $5 billion over the next 24 months. At the outset, experts estimate the investment opportunity in the range of 100 billion in the region.
The country has set an ambitious target to harness renewable source power. The government has set a target to achieve 23 per cent of the energy mix by 2025 and 36 per cent by 2030 through renewable power sources
Wind : Nigeria estimated solar potential is pegged at 427 GW or $9.2 billion per year solar mini gird opportunity. It imported $150 million worth of equipment in 2019. The import value of solar equipment grew by 51 per cent in the recent past.
