HomeNewsHow companies are closing the energy gap in Nigeria – Business Day Report
How companies are closing the energy gap in Nigeria – Business Day Report
June 4, 2019 Olumide Durotoluwa News 0
Business Day has recently published a new report in association with Sterling Bank, titled "Disruptors: How off-grid energy companies are closing Nigeria's energy access gap'. The report presents a broad view of the current energy landscape in Nigeria.
"Nigeria is very attractive for off-grid energy. It has the largest economy in Sub-Saharan Africa (GDP of $397 billion), and a population of 201 million according to the latest data from the United Nations. Over 80 million of these are without adequate access to energy. A significant part of the economy is powered largely by small-scale generators (10–15 GW) and almost 50 percent of the population have limited or no access to the grid."
According to Dr. Wiebe Boer, CEO, All On, "This is a shockingly poor on- grid power supply statistic for a country with almost 200 million people. To put that in perspective, the small Caribbean twin island nation of Trinidad and Tobago has 2,200 MW on their national grid for a population of 1.35 million people, equivalent to the combined populations of just three LGAs in Lagos State-Mushin, Surulere and Eti Osa"
"In this special report on Nigeria's off grid energy sector, BusinessDay is helping to create awareness about the companies providing solutions to Nigeria's perennial
power problems. More importantly, the report highlights the tenacious entrepreneurs who are leading the way to address the country's foundational socio-economic development challenge"
Drawing key references from policy and regulatory framework for the sector over the years, it highlights the various perspectives, optimisms, and developmental advances of various organizations, agency and companies in the sector.
The report further profile 10 amazing off-grid renewable energy companies driving energy access across the country. "While these companies are blazing a trail in the different segments they are playing, be it the commercial and industrial (C&I) energy space, mini grids and solar home systems solutions, we realise that there are many others equally adding value. The challenges, struggles and success of these companies we have profiled mirror their counterparts everywhere else in Nigeria"
Concluding the report, it states that "In the next five years, we expect the sector to significantly move the needle on energy access for millions of Nigerians, especially in rural areas. We expect that operators will begin to record modest profits from
mini-grids as energy for productive use gradually becomes the norm. This will lead to increased economic activities and dent rural-urban migration in Nigeria"
About Olumide Durotoluwa	71 Articles
Olumide writes regularly on Greenergie, with interests in clean tech, business modelling, and analytics. Contact him directly via olumide@greenergie.com.ng
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