Nigeria’s energy industry is characterized by significant shifts, which are creating new opportunities. New business models and technologies are changing the way energy is produced, delivered and consumed, especially for the electricity sector. Evolution of technology, social pressure on environmental sustainability and social inclusion are triggering major shifts in the energy industries and changing the way companies extract and deliver value.
Only half of Nigeria’s population of 200 million have access to electricity. Currently, Nigeria generates a small amount of energy from renewable sources such as hydro power, solar, wind and biomass . Due to the epileptic nature of power supply in the country, businesses and individuals suffer darkness for days on end.
Nigeria’s climate, resources, and economic and societal conditions make solar energy a suitable alternative energy source. The Northern part of Nigeria has the highest potential for solar. The North has an average solar insolation of 2200 kWh/m^2, while the southern part has 1800 kWh/m^2. In addition to adequate power outputs, solar energy would aid the country in reducing carbon emissions from fossil-fueled energy generation. Furthermore, solar power would provide a reliable and stable source of energy in both urban and rural areas, homes and businesses and could alleviate the resources-conflict associated with oil
Due to its geographic location near the equator, Nigeria has the potential to generate most of its energy through solar. Most of the big cities in Nigeria (Lagos, Abuja, Benin City, Port Harcourt, Kaduna and Kano) now power their street lighting with solar energy through state beautification projects