Assessment of Renewable Electricity Policy for Sustainable Electricity Generation in Nigeria

Abstract

Abstract Nigeria commits to fast track the integration of renewables in electricity generation by enacting a 2015 National Renewable Energy and Energy Efficiency Policy (NREEEP). Thus, this policy briefing assesses the effect of the policy, and other socioeconomic factors, on the deployment of renewable electricity generation. The preliminary findings show that renewable energy policy has little effect in facilitating renewable electricity integration in Nigeria due to lack of political will and its adverse effect evident in the non-implementation of incentives like feed-in-tariffs and a zero import duty waiver. Second, increased fossil fuel consumption impedes the deployment of renewable electricity due to the hydrocarbon endowment and its subsidization. The domestic financial market development in Nigeria does not also support the deployment of renewable electricity that requires long-term finance. It requires a political will to strengthen the legal and institutional framework for a sustainable electricity generation deployment. It is also pertinent to consider the total removal of fossil fuel subsidies for renewable electricity integration.

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Identifiers

DOI

10.21203/rs.3.rs-1046396/v1

Journal

Research Square

Year

2021