The Nigeria Power Report 2021/22 shows that the challenges facing the power sector are likely to continue in the medium-term. The lack of gas supply, insufficient T&D infrastructure, and sector illiquidity will contribute to an environment where new IPPs are unlikely to emerge in the coming years. However, after many false dawns the prospect of long-promised recovery may be in sight.
Government policies, supported by the World Bank, look to resolve some of the key issues holding the sector back. Their success will lead to improvements in transmission and distribution - both financial and infrastructural - while the recent passing of the Petroleum Industry Bill will provide much needed clarity for the sector and could unlock new gas supply to the domestic market, as will the construction of major gas pipeline projects. Combined, these may break down some of the major barriers for new IPPs.
In the near term, opportunities for private participation are emerging beyond new build generation. Plans are afoot to privatise the Transmission Company of Nigeria, while state-owned National Integrated Power Projects are being retendered after an unsuccessful privatisation attempt several years ago.
Analysis is underpinned and informed by independent power generation forecasts based on the actual project development pipeline, with data drawn from African Energy Live Data - a proprietary database of more than 6,700 power projects and plant.
The report examines the progress and impact of the government's reform programme alongside the wider challenges facing the electricity supply industry as it tries to improve electricity supply.
- Independent supply and demand outlook - Installed capacity is woefully insufficient to meet demand and hampered by numerous constraints. The report includes African Energy's five-year supply and demand forecast analysing installed generation capacity, available generation, fuel supply and network constraints.
- T&D opportunities - The government continues its privatisation drive with plans to sell Nigeria's transmission entity and the proposed franchising of distribution. The report examines the impact of these moves, the role of mini-grids, and what possible opportunities may arise for T&D participants.
- Gas supply will be crucial - Gas will continue to fuel Nigeria's power sector for many years to come while oil continues to play a key role in the country's economy. The report includes a detailed assessment of the Petroleum Industry Bill and a forward-looking projection of gas availability for the power sector.
- Off-grid growth opportunities - the use of backup diesel generators is widespread, but opportunities for renewables solutions are growing. The report examines the regulations for off-grid generation and distribution and the emerging opportunities for entering this growing sub-sector.
- Political and economic risk - With President Buhari reaching the mid-way point of his final term and the economy reeling from the impacts of Covid-19 and the fall in oil prices from their early 2010s peak, the report explores the political dynamics influencing the future of Nigeria's government and questions whether the bleak economic picture will improve in the coming years.
Key Topics Covered:
- Executive summary
- Risk management report
- Political risk
- Macroeconomic overview
- ESI Overview
- Power sector policy
- Regulation and procurement
- Oil, gas and other resources
- Demand and supply outlook
- Transmission and distribution
- Commercial and industrial market
- Competitive landscape
- Installed capacity data (including breakdowns by fuel, technology, ownership, and for individual states)
Power general projects (operating, under construction, in development)
- 4Power Consortium Ltd
- Abuja Electricity Distribution Company
- Amperion Power Distribution Ltd
- Aura Energy Ltd
- Azura Power
- Benin Electricity Distribution Company
- Bureau of Public Enterprises (BPE)
- China National Electric Engineering Company (CNEEC)
- Eko Electricity Distribution Company
- Enugu Electricity Distribution Company
- Ibadan Electricity Distribution Company
- Ikeja Electricity Distribution Company
- Integrated Energy Distributing and Marketing Ltd
- Interstate Electrics Ltd
- Jos Electricity Distribution Company
- Kano Electricity Distribution Company
- Korea Electric Power Corporation (Kepco)
- Mainstream Energy Solutions
- New Electric Distribution Company
- Nigeria Bulk Electricity Trading Company (NBET)
- Niger Delta Power Holding Company (NDPHC)
- Nigeria Electricity Regulatory Commission (Nerc)
- Nigerian National Petroleum Corporation
- North South Power Company
- Paras Energy
- Pacific Energy
- Port Harcourt Electricity Distribution Company
- Quest Electricity Nigeria Ltd
- Rockson Engineering Nigeria Ltd
- Sahelian Power
- Shanghai Municipal Electric Power Company
- Shell Petroleum Development Company (SPDC)
- Transcorp Ughelli Power
- Transmission Company of Nigeria (TCN)
- Vigeo Power Ltd
- West Power and Gas Ltd
- Winch Energy
- World Bank Group
- Yola Electricity Distribution Company
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