Nigeria placed 22nd in Climatescope 2014, with a score of 1.23.
Its highest rank was 10th on Value Chains Parameter III. Notably, Nigeria’s efforts at power sector reforms and the introduction of feed-in tariffs (FiTs) have not translated into major new investment; the country’s worst performance was on Clean Energy Investment Parameter II for which it came in 36th.
Investment stood at just $140m for 2006-13, of which over 70% went into biofuels production facilities. The country’s installed generation capacity amounts to 8.4GW overall, though available capacity is often only a third of that due to issues such as vandalism of gas pipelines, insufficient fuel supply and transmission constraints.
In 2013, there was only 31MW of non-large hydro clean capacity, all of it small hydro.
The federal government embarked on privatizing the power sector with the aim of attracting investment to increase generation and improve reliability – it has a target of over $20bn for generation assets 2014-20. However, there are already questions over the ability of the new private companies to recover their costs.