The Nigeria Market

The Nigeria Market

Challenges

  • Access to energy
  • Technical barriers
  • Barriers to entry
  • Barriers to distribution/installation
  • Finance

Opportunities

  • The Netherlands is #10 trade import partner for solar equipment.
  • Nigeria is globally ranked 5th in sales volume.
  • Current cumulative installed capacity is 28 MW, with an estimated potential of 427,000 MW.
  • Local assembly of solar panels can cover just 10% of demand.
  • $9.2 Bn/yr market opportunity for Mini-Grids and Solar Home Systems.
  • Import value of solar equipment grew by about 51% between 2015 and 2019.
  • Upsurge diesel prices of 181% vs. cost of going solar reduced by 40% in recent years.
  • $150 MN worth of solar equipment and related devices imported in 2019.