An analysis of the power sector performance in Nigeria

Rapid economic growth and sustainable development depends largely on the level of infrastructural development of a nation. This reasonably suggests that a good knowledge of the performance of infrastructural services in an economy is vital and an essential requirement for policy directed at attaining sound and vibrant economic development. Drawing from above, the study analyses the overall performance of the Nigeria power (electricity) sector and presents some policy guidelines for achieving a world standard power market and sustainable development. The study found that the Nigeria power sector is underperforming and there is an urgent need for proper policy towards achieving a quality and continuous well-functioning electricity market in the country. The installed capacity of the power plants in Nigeria currently stands at about 6000 MW with just about 40% of it is generated annually. This greatly constrains the local industries from competing regionally and internationally, and also undermines industrialisation and employment generation in the country.