The renewables and clean energy sector in Nigeria faces several challenges, including access to financing, regulatory hurdles, and the need for infrastructure development.
However, there are also significant opportunities in the sector, such as the potential for innovation and growth in new technologies like solar and wind power. According to the Nigerian Energy Support Programme (NESP), energy efficiency measures could reduce energy consumption in Nigeria by up to 30%.
Additionally, the Nigerian government has implemented several policies and initiatives aimed at supporting the growth of the renewables and clean energy sector, such as tax incentives and subsidies for renewable energy projects.