CAPITAL EXPENDITURE (Ministry of Power, Nigeria)

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Nigeria’s Federal Government plans a 90 per cent increased access to electricity by 2030 and at least 10 per cent increase in renewable energy mix by 2025 as contained in the National Electric Power Policy (NEPP) of 2001 and the Electric Power Sector Reform Act 2005 (EPSR Act 2005) respectively. Country’s Rural Electrification Agency (REA) says it is targeting a 60 per cent rural electrification by 2020, connecting 5.5 million rural households in the same time period. Many are not sure how the agency might achieve this, given that the 2001 Rural Electrification Fund (REF) is being funded this year with N2 billion and an additional $150 million from the World Bank, due to be released next year. Currently, only 35 per cent of the rural population has access to electricity, per data from the Central Intelligence Agency (CIA)’s The World FactBook. The 2005 policy states that by 2012, “availability of power on demand” would be “fully met”, as well as per capita availability of electricity would be increased to over 1000 units by the same year. World Bank data revealed that more than 75 per cent of Nigeria’s population do not have access to electricity, despite investments government sector investment in the country’s power sector. This, many investors believe, is slowing the country's economic growth rate.

Last updated: 4 days ago

Data: Budget Office Of the Federation

Last updated: 4 days ago  |  Data: Budget Office Of the Federation