Nigeria has launched its Vision 20:2020 which aims to improve both economic development and human well-being.
Within this plan is the proposed investment of over US$80 billion in the power sector covering major areas such as power generation, transmission, distribution and alternative energy.
Currently only about 40% of Nigeria's total population has access to electricity.
The main goal is to generate, transmit and distribute 35,000MW of electricity by 2020.
Other main objectives include:
- To achieve 16,000MW generation by 2013
- To increase electricity access to 50% from the current figure of 40%
- To achieve a generation mix encompassing the following:
- To achieve a 25% contribution of hydro electricity to the nation's electricity generation mix by 2014
- To achieve a 10MW contribution from wind energy
- To achieve a 10MW contribution from solar energy
Nigeria's electricity generation vs demand
Nigeria has 5900MW of installed capacity, however, the country is only able to generate 1600MW because most facilities have been poorly maintained.
Nigeria's power sector has high energy losses (30-35% from generation to billing), a low collection rate (75-80%) and low access to electricity by the population (36%).
The country has proven gas reserves and around 8000MW of hydro development has been planned.
Nigeria has plans to increase access to electricity throughout the country. This would call for 16 new power plants, approximately 15000km of transmission lines, as well as distribution facilities.
Nigeria currently spends US$13 billion a year to fuel generators.