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Begin New Search Topic Financial Institutions Author Precious Chukwuemelie Akanonu

1. Electrification in Nigeria: Challenges and Way Forward

Author:
Chukwuka Onyekwena, Joseph Ishaku, and Precious Chukwuemelie Akanonu
Publication Date:
10-2017
Content Type:
Working Paper
Institution:
Centre for the Study of the Economies of Africa (CSEA)
Abstract:
Although electricity has been generated in commercial quantities in Nigeria for over a century, the rate of electricity infrastructure development in the county is low and power supply remains inadequate. Prior to reforms, the central challenges of the Nigerian power sector was the vertically integrated monopoly of government in power generation, transmission and distribution. While the reforms was successful in privatizing the generation and distribution segments of the Nigerian Electricity Supply Industry (NESI), the overbearing problems in the sector persists –with privatization only changing the dimensions of the challenges. Financing remain a major problem across all the segments of the NESI partly due to non-cost reflective tariff. Yet each segment of the NESI also faces its unique challenges. The generation segment is riffed with the problems of energy security and inefficiencies in other segments. The challenges in the transmission segment lies in the lack of modern transmission lines and equipment, gross mismanagement, poor maintenance of available infrastructure and inefficient grid design. Distribution companies face the problem of huge Aggregate Technical, Commercial, and Collection (ATC&C) losses.
Topic:
Economics, Privatization, Infrastructure, Finance, Electricity, Economic Development, Financial Institutions, and Financial Services
Political Geography:
Africa and Nigeria

2. Infrastructure Financing In Nigeria

Author:
Chukwuka Onyekwena, Precious Chukwuemelie Akanonu, and Anointing Ogie Momoh
Publication Date:
12-2016
Content Type:
Working Paper
Institution:
Centre for the Study of the Economies of Africa (CSEA)
Abstract:
Similar to most sub-Saharan African (SSA) countries, Nigeria has a huge infrastructure deficit which considerably limits efforts towards achieving inclusive growth, sustainable development, and poverty reduction. With infrastructure stock estimated at 20-25 per cent of Gross Domestic Product (GDP), Nigerias infrastructure stock is still significantly lower than the recommended international benchmark of 70 per cent of GDP. The 2014 National Integrated Infrastructure Master Plan (NIMP) estimates that a total of US$ 3 trillion of investments, or US$100 billion annually, is required over the next 30 years to bridge Nigerias infrastructure gap. In particular, the Plan estimates that Nigeria will have to spend an annual average of US$ 33 billion infrastructure investments for the period 2014 -2018. This means that Nigeria will have to more than double its spending on infrastructure from the current 2-3 per cent of GDP to around 7 per cent to make appreciable progress in infrastructure development over the next three decades.
Topic:
Economics, Infrastructure, GDP, Finance, Economic Growth, Economic Development, and Financial Institutions
Political Geography:
Africa, Nigeria, and Sub-Saharan Africa