By Ndubuisi Micheal Obineme
Nigeria is ranked as the largest economy in Africa and has the largest oil reserves in the Economic Community of West African States (ECOWAS). It also offers great potential for renewable energy developments.
However, the country’s power sector is unable to meet the increasing demand for electricity. In order to address the challenges in the power sector, the Nigerian government has initiated various reforms such as the power sector recovery program and also engaging with industry players through various forums with the aim of providing consistent power generation in the country.
For the private sector to play a more active role, there are needs to be further harmonization across the institutional landscape and between the current political, regulatory and legal frameworks. It is also necessary to build technical and administrative capacities so that the measures introduced by the federal government and the federal states can be properly planned and implemented.
This magazine highlights how Germany have been contributing to Renewable Energy Use in Nigeria through various investment programs and organizing events for investors to come explore the Nigerian power sector as the sector is something very important in the West African region.