Nigeria needs an investment of $34.5 billion to solve the fire problem by 2030 According to the analysis, Nigeria will need to invest $4.9...

 

Nigeria needs an investment of $34.5 billion to solve the fire problem by 2030

According to the analysis, Nigeria will need to invest $4.93 billion annually for the next seven years in order to produce 20,000 megawatts.

In order to provide Nigeria with adequate electricity by 2030, a new analysis by the Renewable Energy Alliance (REEEA-A) estimates that $34.5 billion in investment is required.

According to a research published on Monday by the online business publication Businessday Nigeria, Nigeria needs to invest $4.93 billion annually for the next seven years in order to provide its citizens with 20,000 megawatts of electricity. There are more than 200 million of them.

Despite having the capacity to create 13,000 megawatts, Nigeria now only produces 4,500 megawatts of power, according to some data on the nation's electrical production.

According to the research, among the issues that worsen the situation are gas shortages, equipment damage, and water extraction during the summer.