Opportunities in Nigeria

The Nigerian power sector presents promising business opportunities, projected to grow at a CAGR of 12.39% from 2020 to 2024. Nigeria is a favorable investment destination due to its mature government and infrastructure. Key factors driving the appeal of the power sector include:

  • Relatively high current rates of economic growth
  • The ability to support the rapid development of new infrastructure as the power sector attempts to catch up following a long period of underinvestment.
  • Electric power supply in Nigeria at present needs to catch up to potential demand. Plan for upgrading and strengthening the national electricity grid to provide constant high-quality power for all in Nigeria, especially to industrial consumers, and reducing the incidences of power outages
  • The Federal Govt. of Nigeria, investing heavily through IGR funds and international funding agencies through grants, supports uplifting the existing Power Sector.
Key sector/ departments that will be targeted
  • Government Business: TCN, Ministry of Power, NDPHC, PMU, Ministry of Water Board, State Governments
  • Private Business: DISCOMS, GENCOS, Cement, Steel, Food & Beverages, Oil and Gas, etc.