RENEWABLE ENERGY

Nigeria’s renewable energy sector is a growing contributor to the economy, providing alternative sources of energy and reducing reliance on fossil fuels. The sector is dominated by solar and wind energy, but there are opportunities for investment in other sources such as hydropower and biomass. However, the sector faces challenges such as inadequate infrastructure and limited access to financing. There are opportunities for investment in areas such as renewable energy financing, energy storage solutions, and smart grid technology. Nigeria’s renewable energy trade value is relatively low, but there is potential for growth in the domestic and international markets. Competitive advantage in this sector includes abundant natural resources, a need for sustainable energy solutions, and a supportive regulatory environment.