With a population of over 183 million people and a population growth rate of 2.7 percent per annum, the demand for power in Nigeria can only be expected to rise. An estimated 55 percent of Nigeria’s population have no access to grid-connected electricity.

Presently, Nigeria has an installed electricity generation capacity of 12,522 megawatts; 10,592 megawatts is gas fired and 1,930 megawatts is from hydro. However, the maximum peak generation that has been reached is about 5,074 megawatts.

Nigerians self-generate a significant portion of their electricity, at a cost that is greater than twice the cost of grid-based power. The Nigerian power sector remains in need of significant investment as its utility-scale electricity generation capacity continues to fall short of meeting domestic demands.