Unlocking Investments In The Nigerian Power Sector: Will The West African Power Pool Provide The Needed Respite?

The fact that Nigeria sits on huge gas reserves estimated to be in the region of 187 trillion standard cubic feet is not news. If properly harnessed, experts say that this significant reserve is enough to generate electricity in excess of Nigeria’s needs. In addition, the country possesses an array of hydro and other renewable energy resources that should drive investments in renewable power generation. To cap it all, Nigeria is further blessed with a vast population which, coupled with the monumental deficit in electric power supply relative to demand, should make Nigeria a ready market for large investments in the power sector. In effect, given such potentials, it is expected that the Nigerian power sector would have been at the forefront of attracting foreign direct investments into the country.