From Potential to Power: Advancing Nigeria’s Energy Sector through Renewable Integration and Policy Reform

Abstract

Nigeria is a nation endowed with both abundant renewable and non-renewable energy resources. Despite its vast potential, Nigeria struggles with a consistent power supply due to various systemic issues, such as inadequate funding, infrastructural decay, corruption, technical skill shortages, and macroeconomic instability. These challenges hinder the effective harnessing and distribution of energy resources, particularly renewable ones like wind, solar, biomass, and hydropower. This study assesses the existing energy policies and their efficacy in promoting sustainable energy development towards achieving universal electricity access by 2030. It highlights the necessity for a just energy transition that integrates a substantial proportion of renewable energy into the national grid, aiming to meet up to 60% of the country's energy demands with clean sources by 2050. This transition is critical not only for energy security and reducing the environmental impact but also for fostering socioeconomic equity. Recommendations include overhauling the legal and regulatory frameworks to support renewable energy growth, particularly in off-grid areas, to ensure clean, affordable, and secure energy access. Strategic investments, enhanced infrastructure, and robust public-private partnerships are essential to overcome the current barriers and realize Nigeria's energy potential. This paper calls for a comprehensive approach that addresses both the technical and socioeconomic dimensions of the energy crisis, laying the groundwork for a sustainable and prosperous energy future for Nigeria.