Energy Policy in Nigeria: Prospects and Challenges

Energy is the major force that drives any country`s socio-economic development. Without electricity, the country could be at risk of losing many potential investors. As such, good policy implementation could play a significant role in harnessing all the available energy resources. Nigeria has the prospects of meeting its energy demand and supply if there are good policies and proper implementation of them. The current energy supply needs to improve in order to meet the present and future demand. Sustainable energy development is the way forward. Renewable energy plays a significant role in socio-economic development of any country. Nigeria is a country blessed with abundant natural resources such as, solar radiation for solar power, water for hydropower, wind for wind power, and biomass from both plants and animal’s waste. Both conventional energy (fossil fuel) and unconventional energy (renewable) could be harmonized like in the case of energy mix or biofuels. Biofuels like biodiesel could be produced from biomass and combined with petro-diesel in different ratios. All these can be achieved if good policy is in place. The challenges could be well overcome with good policy, masses awareness, technological knowledge and other incentives that can attract investors in Nigerian energy sector.





References:
[1] Nigerian Energy Support Programmes (NESP), 2015. The Nigerian Energy Sector: An overview with a special emphasis on renewable energy, enegy efficiency and rural electrification.
[2] The Federal Republic of Nigeria, 2016. National Renewable Energy Action Plans (NREAP) (2015-2030) First Version. Adopted by: Inter-Ministerial Committee on Renewable Energy and Energy Efficiency (ICREEE).
[3] Musbaudeen, O. B., Abdallah, D., Adetunji, A., Ahmed, S., Ahmed, Y., Ayoola, B., Idowu, A., Isa, K., Oluwadamilola, P. and Wasiu S. 2019. A Review of Nigerian Energy Policy Implementation and Impact.
[4] Bala, E. J. 2015. “Nigeria Energy Security and Emissions Scenarios to 2050. Paper prented at the Int. Conference on 2050 Calculator by Prof. E. J. Bala, Director-General Energy Commission of Nigeria.
[5] Energy International Agency, 2020. The U.S. Energy Information Administration. “Country Analysis Executive Summary: Nigeria. pp. 1–10.
[6] Henry, A. and Reuben, O. “Assessment of Nigerian Renewable Energy Potentials and Energy Poverty; Challenges and Prospects. vol. IX, no. Vi, pp. 1–19, 2020.
[7] Akorede, M. F., Ibrahim, O., Amuda, S. and Otuoze, A. 2017."Current Status and Outlook of Renewable Energy Development Current Status and Outlook of Renewable Energ.
[8] Idris, W. O., Ibrahim, M. Z. and Albani, A. 2020. “in Nigeria,” pp. 1–16, 2020.
[9] International Renewable Agency (IRENA). Global Energy Transformation: A Roadmap to 2050 (2019 Edition).
[10] Arthouros, Z., and Rana, A. 2019. Renewable Energy Report, 2019. Global status report, 2019.
[11] Schiffer, H-W. 2016. World Energy Resources,2016. World Energy Council.
[12] Arthouros, Z. and Rana, A. 2019. Renewable Energy Members, “Renewables 2019 global status report 2019,” 2019.
[13] Boguniewicz-zabłocka, J.and Łukasiewicz, E. 2019. “Analysis of the Sustainable Use of Geothermal Waters and Future Development Possibilities — A Case Study from the Opole Region, Poland.
[14] Aggarwal, V., Meena, C. S., Kumar, A. and Alam, T. 2018. Potential and Future Prospects of Geothermal Energy in Space Conditioning of Buildings: India and Worldwide Review.”
[15] Lu, Y., Khan, Z. A., Alvarez-alvarado, M. S., Zhang, Y. and Huang, Z. 2020. A Critical Review of Sustainable Energy Policies for the Promotion of Renewable Energy Sources, pp. 1–30.
[16] Olagunju, O. O., Onuoha, B., Saibu, O. M., Eneanyi, N. A. and Akintunde, O. 2020. Appraisal of Nigeria`s Energy Planning: Prospects for Sustainable Development. pp. 1–9.
[17] The Nigerian Energy Report, 2017. The advance of Renewables in Nigeria. Disruptors: How off-grid energy companies are closing Nigeria`s energy acess gap.
[18] Roche, M. Y., Verolme, H., Agbaegbu, C., Fischedick, M., Oladipo, E. O. and Fischedick, M. 2019. Achieving Sustainable Development Goals in Nigeria power sector: assessment of transition pathways Achieving Sustainable Development Goals in Nigeria’ s power sector: assessment of transition pathways. Policy, pp. 1–20.
[19] World Energy and Outlook Special Report, 2019. International Energy Agency (IEA). “Africa Energy Outlook, 2019”.
[20] Olanipekun B. A. and Adelakun, N. O. 2020. “Assessment of Renewable Energy in Nigeria: Challenges and Benefits.
[21] Paul, O. U., Albert, O. and Adeiza, A. S. 2019. Electricity Crisis in Nigeria: The Way Forward.