The power sector is a crucial enabler (catalyst) to industrialization, agro production and other productive sectors. Within the framework of the 2023 Electricity Act, the Bank will support the new wave of energy reforms in the power sector in support of the Energy Compact declaration at the Dar es Salaam summit encompassing policy and regulatory interventions and economic sector work at Federal and State levels. The Bank will continue to support the completion of the National Integrated Electricity Policy and Strategic Implementation Plan to serve as the coordinated sector investment framework. This involves the preparation and systematization of the least cost Integrated Resource Plans for Federal and State levels and subsequent investments in the power value chain prioritizing sustainable and renewable energy. 

Energy infrastructure development will be anchored on the Integrated Resource Plan to address the capacity mismatch across the electricity value chain (Generation, Transmission and Distribution). Investment in transmission and distribution will be prioritized to support viability of utilities and increase evacuation capacity. Renewable energy for on-grid and off-grid will also be prioritized, by leveraging the Desert-to-Power flagship initiative to drive the clean energy agenda in tandem with Nigeria’s energy transition plan and the Energy Compact. The Bank will consolidate its lead role and build on its Battery Energy Storage Systems initiative in Nigeria with the completion of the grid feasibility study and the preparation of regulatory, policy and commercial frameworks for BESS deployment to further boost the grid capacity for Variable Renewable Energy and grid stabilization. Interventions will also focus on aggregate technical and commercial loss reduction initiatives such as smart metering to support distribution company sustainability. 

The Bank will support energy efficiency in industry, decarbonize industrial investment and clean cooking to mitigate the impact of deforestation and climate change, while improving public health outcomes. Sustainable training and skills development across the value chain particularly in meter and renewable energy system installation will be pursued to complement the metering drive and scaling up of renewable energy to close Nigeria’s power sector and green skills gaps. This would be complemented by effective digitalization of the certification and monitoring scheme to ensure effectiveness. 

Source: Nigeria Country Strategy Paper 2025-2030, and AEP data

• Federal Ministry of Power
• Nigerian Electricity Regulatory Commission
• Transmission Company of Nigeria (TCN)
• Electricity Distribution Companies(DisCos)
• Nigerian Electricity Management Service Agency (NEMSA)
• Electricity Generation Companies (GenCos)
• Nigerian Bulk Electricity Trading Plc

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