- IEA estimates that Nigeria will have less than the predicted growth in other African countries between 2022 and 2027.
- The share of renewable energy in the power mix is expected to rise by 10% in 2027.
According to the International Energy Agency’s (IEA) 2022 Renewables Report, Nigeria’s growth in renewable energy will reach 1 gigawatt (GW) by 2027
The analysis estimates that between 2022 and 2027, Nigeria will add 1 GW of renewable energy capacity, less than the predicted growth in South Africa, Ethiopia, Tanzania, Angola, and Kenya.
The research also mentioned Nigeria’s lack of enabling policies for extensive renewable energy. Additionally, the circumstance prevents the widespread growth of renewable energy.
This problem is mainly hampered by energy access when there are frequent power outages brought on by ageing infrastructure.
By early 2025, renewable energy sources will surpass coal as the primary source of electricity generation worldwide, according to an IEA report. Over the projected period, the share of renewable energy in the power mix is expected to rise by 10%, reaching 38% in 2027.
Similarly, the amount of electricity generated by solar and wind power will quadruple over the next five years, reaching nearly 20% in 2027. Over the predicted period, these variable technologies will boost renewable energy production by 80% globally, necessitating new sources of flexibility for the power grid.