TOWARDS A SUSTAINABLE ENERGY FUTURE FOR NIGERIA: REGULATIONS, CHALLENGES, AND OPPORTUNITIES

This report provides a detailed analysis of Nigeria’s energy sector, focusing on regulatory frameworks and strategies to achieve 100% electrification by 2030, in line with Sustainable Development Goal 7 (SDG 7). It examines the evolution of Nigeria's power system, assessing current electricity generation and distribution, and highlighting the challenges faced in achieving universal access to electricity. Nigeria, with over 85 million people lacking grid electricity, holds the largest global energy access deficit. The report identifies key challenges such as inadequate generation capacity, outdated infrastructure, financial constraints, policy inconsistencies, and heavy reliance on fossil fuels, despite significant renewable energy potential. The role of the Nigerian Electricity Regulatory Commission (NERC) and the Electricity Act 2023 in addressing these inefficiencies is discussed, alongside major ongoing energy projects led by the Rural Electrification Agency (REA), including hydropower and solar initiatives. The report concludes with a roadmap for achieving 100% electrification by 2030, emphasizing the need for stronger regulations, innovative business models, and increased investment in renewable energy. A coordinated effort among government agencies, the private sector, and international partners is critical for achieving sustainable and reliable energy access for all Nigerians.