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Industry News

Stay ahead of the pack with our round-the-clock news service and thought leadership from industry experts. keeping you up-to-date with the latest developments and technological advancements in the Nigeria Energy sector.

Nigeria economic powerhouse faces significant challenges

Nigeria, an African economic powerhouse, faces significant energy challenges and great possibilities. The country's impressive human and natural resources can be the basis for a growing and highly diversified energy sector, one increasingly able to meet its own needs.

Nigerian Power Pair to Highlight Country's Renewable Energy Drive at Middle East Energy Dubai

Prominent Nigerian business and government leaders will take the Middle East Energy Dubai ( 2022 stage to share insights on policies designed to achieve the double goal of clean and accessible energy in Africa; Live and in-person Middle East Energy 2022 takes place at Dubai World Trade Centre from 7 – 9 March.

GEUF: Renewables can help with power shortfall in African continent

During a panel discussion at the Global Energy Utilities Forum, part of Middle East Energy, experts and officials addressed the challenges facing African countries in meeting the electricity needs of their populations and the opportunities renewable resources offer to increase electrification rates

African Development Bank commits $164m for decentralised clean energy projects in Africa

The board of directors of the African Development Bank (AFDB) has approved the Leveraging Energy Access Finance Framework (LEAF), under which the bank will commit up to $164m to promote decentralised renewable energy projects in six African countries

Five Electricity Policy Priorities for Nigeria

Nigeria is Africa’s largest economy, but also has one of the widest energy gaps in the world. With a quickly growing population, Nigeria urgently needs to improve its power sector. The government’s aim to boost electricity access from 45% today to 90% by 2030 will drive even more demand. 

Nigeria Case Study: Financing Instruments for the Mini-Grid Market

This case study features Nigeria and draws on the experience of the Nigerian Federal Ministry of Power, the Rural Electrification Agency, the Nigerian Electricity Regulatory Commission, the Nigerian Energy Support Programmes supported by the EU and Germany, and the Federal Government’s Nigerian Electrification Project which receives support from the African Development Bank and World Bank.

Exclusive: Powering the African continent with renewable energy

Watch the on-demand panel discussion, hosted as a part of the Global Energy & Utilities Forum 2022, to find out how the African continent is tackling the current energy deficit through renewable energy and the role of international financial institutions in supporting the development of clean energy schemes.

Recent policies enabling energy investments in Nigeria

The importance of energy access

“Improving access and reliability of power is key to reducing poverty and unlocking economic growth in the aftermath of the global COVID-19 pandemic,” Shubham Chaudhuri, World Bank Country Director.

The African continent, particularly Sub-Saharan Africa (SSA), presents a good example of where a significant increase in access to electricity is required for economic development. 

UK Announces £10 Million Investment in Nigeria’s Clean Energy Sector

The U.K. plans to expand low-carbon energy projects throughout Nigeria via a £10 million investment, which will be mobilized through Nigeria’s infrastructure finance institution, InfraCredit.

Specifically, the investment will scale-up green energy project developments such as solar mini grids, while leveraging domestic capital through the blending of finance to de-risk transactions. 

US invests in development of solar power in Nigeria

Leading Lagos-based newspaper reports on new international support for Nigeria's power sector, in form of a 20-year facility with assets to be held by state-owned Niger Delta Power Holding Company.

Nigerian national newspaper This Day reported last week that Nigeria secured a $1.5 billion loan from the US Export-Import Bank (US-EXIM Bank) for the development of solar power infrastructure in the country.

Laws and Regulations for Renewable Energy in Nigeria

Renewable energy deals with power generation from hydro and gas-fired thermal power plants. There are various renewable energy resources such as solar, wind, biomass, and hydropower, etc. They are used as an alternative to the most commonly used sources of energy such as coal.

Renewable energy offers improved environmental and health quality as it does not pose health risks. There are laws enacted to regulate renewable energy in Nigeria, which will be discussed below.

Key Highlights of Nigeria's Electricity Bill

If renewable energy is to make significant in-roads into the power generation mix in Nigeria, particularly in an era where significant steps are required to tackle climate change concerns, changes are required to the Electric Power Sector Reform Act, 2005 (“EPSRA” – the key legislation for the NESI).

The proposed Electricity Bill 2021 (the “Electricity Bill”) aims to provide the legal and regulatory changes required to stimulate the contribution of renewable energy to Nigeria’s energy mix. In this newsletter, we highlight key provisions of the Electricity Bill as it relates to the development and deployment of renewable energy in the NESI.

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