Economic Reform and The Development of Nigeria’s Power Sector, 2015-2020 (Published)
Nigeria’s successive governments have tried a variety of policy alternatives throughout the years to enhance the country’s power industry, but they have all failed due to substantial energy losses (both technical and non-technical), a lack of knowledge, and high operating costs. The present government found it difficult, if not impossible, to implement any meaningful changes in the power industry given this tendency. Consequently, the private sector must be involved in the growth of Nigeria’s electricity sector. In essence, the study looks at how Nigeria’s electricity sector would develop between 2015 and 2020 in the wake of economic reform. In order to arrive at the solution to the problem, the study relied on secondary sources of data collecting in addition to qualitative data analysis and documentary methods of data acquisition. The study found that the lack of competition among power distribution businesses was the cause of Nigeria’s ongoing poor access to power, using the crony capitalism theory as our analytical framework. Above all, the report advises the Nigerian Energy Regulatory Commission (NERC) to enforce its authority as a regulator by enforcing appropriate fines and consequences against individuals who transgress the laws, rules, and regulations governing the energy market.
Keywords: Development, Nigeria, Power Sector, economic reform