Millions in Nigeria have little to no electricity. It's straining businesses and public services

The lack of reliable electricity severely affects education and businesses in Nigeria. Despite abundant solar potential, high financing costs stall some 14 grid-scale solar projects needed to raise the country’s electricity capacity. Students of Excellent Moral School attempt to answer a mathematics question on a blackboard inside a dimly lit classroom in Ibadan, Nigeria, Tuesday, May 28, 2024. The lack of reliable electricity severely affects education and businesses in Nigeria.

In a country with abundant sunshine, many are looking to solar energy to help fill the gaps, but getting risk-averse investors to finance major solar projects that would give Nigeria enough reliable energy is an uphill struggle. It means that millions in the country are finding ways to live with little to no electricity.West African defense chiefs propose a $2.

That means it’s more costly for solar companies to work in Nigeria or other developing nations than in rich countries. Africa only has one-fifth the solar power capacity of Germany, and just“The same project put up in Nigeria and Denmark; the Danish project will get funding for 2 to 3 percent” interest rate, said Najim Animashaun, director of Nova Power, one of the stalled solar projects.

One option would be getting World Bank guarantees that would put investors at ease and make them more willing to put money into solar projects — but the government is wary of signing up to anything that would force them to pay large sums even if electricity from the projects does not get the consumers because of inadequate transmission and distribution infrastructure.

The problem is not just the lack of electricity for computer-aided learning, proper lighting, and fans to make classes less stuffy for pupils and teachers, but also that students are unable to complete their school assignments at home, Adedoja said. “If nothing changes, I probably would have to close one or two branches,” she said, though she is planning to go solar which she enthuses will help us cut “pollution from the diesel .” She’s in talks with her bank for a low-cost loan package specially designed for young women entrepreneurs to finance the solar alternative.

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