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Stand Alone Solar (SAS) – Market Update: Nigeria

 

Nigeria – Key Highlights

  • Annually, certified SAS are reaching less than 2% of Nigeria’s enormous off-grid (15.4 million household) and under-served populations.
  • 2019-2020 currency volatility and GDP decline from oil shocks was worsened by COVID-19 restrictions, but 2021 projections show stabilisation and recovery.
  • Mobile transactions are skyrocketing, albeit from a low base — up more than tenfold.
  • Government is actively promoting SAS electrification and local solar assembly and manufacturing, including through the “Solar Power Naija” COVID relief package.
  • Commercial investment has been growing for big international players, while most solar retailers (80%) operate without any credit line.
  • Government support, increasing financial inclusion, consumer lending options and a COVID-related boost in awareness of the value of solar all make for strong potential growth.
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