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ARTICLE · 11 OCTOBER 2024

Energy Insıghts: The Quarterly

Stren and Blan Partners
Stren and Blan Partners
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Q3 of 2024 for Nigeria's energy sector demonstrated significant advancements despite persistent challenges.

NigeriaEnergy and Natural Resources
Ozioma Agu
Ozioma Agu
Chizitereihe Oti
Chizitereihe Oti
Kolajo Onasoga
Kolajo Onasoga
Babatunde Oyewole
Babatunde Oyewole
Oghenemega Igbru
Oghenemega Igbru

Executive Summary

Q3 of 2024 for Nigeria's energy sector demonstrated significant advancements despite persistent challenges.

In the power sector, despite the infrastructural deficits and financial constraints, there has been notable efforts to improve efficiency in generation, transmission and distribution. The Electricity Act 2023 continues to set a positive trajectory by encouraging private sector involvement and enhancing regulatory frameworks. 

In the oil and gas sector, Q3 saw an increase in oil production and significant strides such as the commencement of petrol production at the Dangote Refinery. This move is expected to reduce Nigeria's reliance on imported fuel and strengthen domestic supply chains. Additionally, natural gas exports continue to expand, particularly with new partnerships in Asian markets thus increasing the possibility of more affordable electricity at a closer timeline.

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