Nigeria Power Report Q1 2015

Business Monitor International
December 17, 2014
86 Pages - SKU: BMI5416339
Countries covered: Nigeria

Nigeria Power Report Q1 2015

BMI View: Strong macroeconomic fundamentals, progress in gas-fired and renewable power generationand the mobilisation of domestic and international financing continue to support our long-term optimisticoutlook for Nigeria's power sector. We emphasise, however, that natural gas shortages,inefficient infrastructure and a challenging business environment remain sizeable risks to investment in themarket - with the lack of feedstock for the country's expanding thermal power capacity representing thegreatest constraint to Nigeria's considerable potential.

We have maintained our core view that the Nigerian power market can offer huge long-term opportunitiesfor investors willing to take current operational risks. This is predicated on colossal untapped - and growing- demand for power, driven by an expanding population, a booming economy and a still limited nationalelectrification rate (currently at about 50% of the population). We forecast real GDP to expand by an annualaverage rate of 6.8% between 2014 and 2023, while power consumption will grow by an average rate of9.6% over the same period.



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