Powering Nigeria through renewable electricity investments: legal framework for progressive realization
Renewable energy has a prominent role in promoting energy access and addressing environmental concerns with energy use in Nigeria. However, there are legal barriers that have not allowed renewable energy to be used in the Nigerian electricity sector. The absence of an effective legal framework to encourage and promote investment in renewable energy is a major challenge. This article investigates the barriers to promotion of investment in renewable electricity in the country. These barriers include the lack of unison and clarity of roles for institutions relevant to the promotion of renewables, high cost and lack of funds, inability of consumers to bear the cost of subsidies, lack of priority access and connection to the grid, short licensing duration, and lack of adequate and reliable information, which consumers, investors and the government can rely upon. To address these concerns, and to make investments in the renewable energy sector more favourable, there is the need to develop an effective legal framework that addresses barriers to investment in renewable electricity. This article presents insights on how the law can be used as an instrument for realizing the development of renewable electricity in Nigeria.
Keywords: Renewable, energy, power, electricity, investment, sustainable development.