Nigerians are all too familiar with the phrase, “there is no light.” For decades, a major part of the population has relied on expensive generators to light up their homes and businesses.
About 40% of residents have no access to electricity from the national grid, and even those who have access are victims of regular blackouts.
Earlier this year, the Central Bank of Nigeria (CBN) said Nigerians spend about $14 billion on petrol or diesel-powered generators and fuel annually. The strange thing about this situation is that Nigeria is endowed with significant oil, gas, hydro and solar resources.
To understand the problem, we decided to look through some data on Nigeria’s power sector.
Different countries use various types of energy sources, depending on the resources they have. For example, Ethiopia has some of the richest water resources in Africa and is heavily reliant on hydroelectricity, which makes up 92.5% of