Electric Power Industry Restructuring In Nigeria
Oseweuba Valentine Okoro
Keywords: power sector, Independent Power Producers, Nigerian energy mix, restructuring drive, privatization
Abstract: This paper presented a general overview of Electric power generation in Nigeria, with a special focus on the restructuring attempts made by the Federal Government to facilitate the provision of a more stable power supply for her people as well as an investigation into the basis of the Nigerian energy mix. During the course of this investigation, there was an extensive consideration of the history of power generation in Nigeria, the current state and the future trends while establishing that the non-sustainable nature of the current power systems remains the major catalyst for the electricity restructuring drive. The paper also identified the various plant types that will adequately meet the demands for peak, intermediate and base load requirements. The economics of electricity generation via the utilisation of the Levelised Cost of Energy (LCOE) was explored in an attempt to fully explain the Nigerian energy mix while establishing the role of economics and resource availability in the determination of the Nigerian energy mix. Possible social and environmental concerns of electricity generation were also explored and mitigation measures identified from literature. The paper also provided recommendations that will assist in the achievement of a more sustainable and revitalised electric power sector within the country Nigeria.
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