ABUJA - Nigerian electricity companies are short of an estimated 2 trillion naira ($2.5 billion)in capital and need new investors to revive the industry that can barely supply power to its 200 million residents.
The Nigerian president’s energy adviser told Bloomberg new policies were needed to “bring in new partners with new capital” without providing further details.
Large numbers of households in Nigeria use generators to meet their electricity requirements as the country grapples with a dilapidated national grid.
Nigeria, Africa’s most populous country, has an installed electricity generation capacity of 13,000 megawatts, a quarter of South Africa’s installed capacity.
