2024 marked the 11th year since the privatisation of the Nigerian Electricity Supply Industry and the first full year under the Electricity Act 2023. This landmark legislation has driven significant shifts in the sector, particularly in relation to the decentralization of the electricity market in Nigeria.
Our 2024 Power Wrap-Up Report provides a comprehensive review of key market developments, focusing on significant legal and regulatory changes, market trends, and shifts in the sector’s energy mix. Notably, there is a growing emphasis on renewable energy sources as Nigeria’s energy landscape diversifies to include hydro, solar and other sustainable options. Both public and private sectors are increasingly investing in these alternative options, promoting a more balanced energy mix and advancing energy reliability.
Looking forward to 2025, we provide projections on anticipated developments. Key themes include expected regulatory updates, increased state electricity markets, more infrastructure investments from both public and private sectors, bilateral trading, waste-to-energy projects, further integration of renewables, and strategic approaches for optimizing energy efficiency across Nigeria. These projections are designed to assist our clients and sector stakeholders in planning for the risks and opportunities ahead.
