Currently access to power is limited to only approximately 40% of the Nigerian population and power supply averages about 4000MW versus a suppressed demand that is estimated at 10,000MW daily. The Federal Government’s target is to connect an average of 1.5 million households annually through grid extension as well as non-grid solution using renewable energy (i.e. solar, wind, small and medium hydros).
- Nigeria plans to generate as much as $16.4 billion through asset sales in the Next four years to reduce the burden On the public budget
- Transmission and distribution up to US $5 BILLION is required for energy
- USAID SUPPORTS RENEWABLE ENERGY DEVELOPMENT. The United States Agency for International Development (USAID) has announced a grant commitment of $767,512 to support the development of renewable energy in Nigeria.
- Nigeria has the 7TH LARGEST NATURAL GAS RESERVE IN THE WORLD and significant opportunities exist in supplying the infrastructure required.
- AFDB approves US $100 MILLION for the rehabilitation of the hydro plants to increase available capacity to 1,338.4 MW
- US $1.9 MILLION grant signed by AfDB and the West Africa Power Pool for the Nigeria-Benin Interconnector Reinforcement Project