The Nigeria Market – RenewableTechNigeria

Challenges

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.