Nigeria’s power sector is in the midst of a complete overhaul, as the Federal Government (FG) implements several reforms aimed at bridging the country’s metering gap, de-risking the sector and solving financial liquidity issues. These include adopting smart meters to generate revenues and increase electricity consumption, as well as decentralizing transmission lines and implementing new funding schemes. Earlier this week, the Federal Government announced a directive for the country’s electricity distributors to supply 6,000-6,500 MW of power within the next six months – up from 4,000 MW – to eliminate power cuts and boost power supply.
Organised by Energy Capital & Power, IAE 2024 (https://apo-opa.co/3UMOOtQ) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Nextier Power is expected to discuss opportunities to finance, service and expand Nigeria’s power sector – and across the continent – as the forum aims to connect bankable energy projects with the requisite investments. According to the IEA, Africa will need investments of up to $190 billion annually between 2026 and 2030 to meet rising energy demand. For Nigeria, the country’s focus is on prioritizing sufficient baseload power generation – primarily through coal- and gas-fired power plants – then gradually transitioning to cleaner sources of energy.
Distributed by APO Group on behalf of Energy Capital & Power.
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