Abstract

Nigeria has fairly adequate endowment of energy resources, yet the country is lagging behind in terms of access to reliable and affordable energy supply. The country faces serious challenges as a result of declining electricity generation from domestic power plants. This steady decline has led to a near failure of the electric power sector. Electricity supply required to place Nigeria on the path of economic growth and sustainable development is in very short supply. The country has just 45 electrification rate, with only 54.7% of her population electrified as at 2016. More than 80 million people are still without access to electricity with frequent power failure. This has contributed to the slow economic growth currently experienced in Nigeria. Regular power supply is the hallmark of a developed economy. Nigeria is blessed with energy resources which could be harnessed to provide various modern energy services and which could have played essential role in the effort to alleviate poverty in the country. There is failure to mobilize the required resources for the development of energy resources in Nigeria. Around 1,500MW of Nigeria’s hydropower potential is currently being used, contributing to about 30% of the total amount of electricity produced. The large amount of gas associated with oil exploration operations is being wasted through flaring instead of being valuably used for power generation and industrial processes. Current patterns of production and consumption of energy are not sustainable. This paper highlights the importance of sustainable electric energy development in attaining sustainable development in Nigeria.

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