What do you believe is the single most important factor driving up the cost of living in Nigeria?

It also advocated for the development of stable policies, provision of incentives for private sector investment, and measures to address corruption in the sector.

IISID noted that currently, Nigeria, with a population exceeding 210 million, required approximately 180,000 MW of electricity for a reliable power supply but was generating less than 6,000 MW.

“The power sector is dominated by gas-fired power plants, which face continuous supply issues and insufficient investment.

“It is worth noting that Nigeria has abundant renewable resources—solar, wind, and hydropower—that are currently underutilized. We strongly believe there is significant potential for these resources to enhance electricity generation and access, and immediate action is needed,” IISID stated.

As a group with expertise in power generation, sustainability, and distribution, IISID recommended the following measures for improvement: “Encourage collaboration between the government and private sector, including international organisations, allow multiple companies to distribute electricity to foster competition and improve efficiency, promote energy-efficient technologies and practices to reduce demand.

• Read More