Please Wait.....
Report
Nigeria Renewable Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 95 Pages I Mordor Intelligence
The Nigeria Renewable Energy Market size in terms of installed base is expected to grow from 3.44 gigawatt in 2025 to 5.51 gigawatt by 2030, at a CAGR of 9.88% during the forecast period (2025-2030).
In the long term, favorable government policies to promote renewable energy generation and advancements in renewable energy technologies are also expected to drive the market's growth.
On the other hand, increasing penetration of natural gas for power generation is expected to restrain the Nigerian renewable energy market between 2024 and 2029.
The technological advancements in solar PV manufacturing will likely create lucrative growth opportunities for the Nigerian renewable energy market from 2024 to 2029.
Nigeria Renewable Energy Market Trends
Hydro Power Generation is Expected to Dominate the Market
- Nigeria has large rivers and natural falls. However, the primary water resources that provide rich hydropower potential in the country are the Niger and Benue Rivers and the Lake Chad basin. The country has an estimated 1,800 m3 per capita per year of renewable water resources available; however, it has been an economically water-scarce country owing to a lack of investment and management to meet the increasing demand.
- Hydropower is the second-largest source of electricity in Nigeria after thermal power. As of 2023, the country has around 2851 MW of hydropower installed capacity. Financial issues and delays have negatively affected the country's development of large-scale hydropower projects.
- However, as of February 2024, a few of the hydropower projects under the development stages in Nigeria were Mambilla at 3050 MW, Markudi at 1650 MW, Kainji at 980 MW, Lokoja at 750 MW, and Jebba at 578 MW.
- In October 2023, the country commenced the operation of a 700 MW Zungeru hydropower plant developed by the China National Electrical Equipment Corporation (CNEEC). The new hydropower plant is likely to generate over 2.5 Terawatt hours of electricity annually, which could fulfill the country's 10% annual electricity consumption.
- According to the points above, the hydropower segment won't be able to compete in the Nigerian renewable energy market between 2024 and 2029.
Favorable Government Policies are Expected to Drive the Market
- The government of Nigeria issued the Climate Change Act in 2021 to achieve lower greenhouse gas emissions and sustainable growth. It intends to fulfill this goal by achieving a net-zero target between 2050 and 2070. As of 2023, the country had around 2984 MW of hydropower installed capacity.
- The Renewable Energy Master Plan (REMP) of the Nigerian government stipulates the increase in the share of renewable energy generation to 23% by 2025 and 36% by 2030. In addition, the installed capacity of small hydropower will be increased by 2000 MW, solar PV will be increased by 500 MW, biomass will be increased by 400 MW, and wind will be increased by 40 MW by 2025. Such a scenario signifies the robust development of the Nigerian renewable energy market.
- The REMP in Nigeria promotes deploying renewable-based power generation systems in the country. As part of this Plan, at the beginning of 2020, the government of Nigeria launched the NaijaSolar Power Project, which targeted around 5 million solar-based connections for off-grid communities.
- Through government efforts, solar energy and battery energy storage projects are gaining traction in Nigeria. For instance, in November 2023, Sterling & Wilson Solar Solutions Inc. (SWSS) and Sun Africa grabbed a contract worth about USD 2.2 billion from Nigeria's Ministry of Power. The project would encompass 961 MW of solar energy capacity and 455 MWh of battery storage.
- Owing to the above points, favorable government policies to promote renewable energy generation are expected to drive the Nigerian renewable energy market.
Nigeria Renewable Energy Industry Overview
The Nigerian renewable energy market is semi-consolidated. Some of the major players in the market are Engie SA, TotalEnergies SE, Starsight Energy, Enel SpA, and North South Power Co. Ltd.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in GW, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Recent Trends and Developments
4.6 Market Dynamics
4.6.1 Drivers
4.6.1.1 Favorable Government Policies are Expected to Promote Renewable Energy Generation
4.6.1.2 Advancements in Renewable Energy Technologies
4.6.2 Restraints
4.6.2.1 Increasing Penetration of Natural Gas for Power Generation
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 By Source
5.1.1 Solar
5.1.2 Hydro
5.1.3 Other Renewable Energy Sources
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Engie SA
6.3.2 TotalEnergies SE
6.3.3 Starsight Energy
6.3.4 Sinohydro Corp Ltd
6.3.5 JinkoSolar Holding Co. Ltd
6.3.6 Sterling & Wilson Pvt Ltd
6.3.7 Enel SpA
6.3.8 North South Power Co. Ltd
6.4 Market Ranking/Share Analysis
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancements in Solar PV Manufacturing
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security