Nigeria's Electricity Crisis: Solar Projects Stalled Amid High Costs

Half of Nigeria's population lacks reliable electricity, impacting education and businesses as solar solutions face financial hurdles.

Many Nigerian schools and businesses operate without electricity, relying on costly and polluting generators.
Interest rates as high as 15% hinder the development of solar projects despite Nigeria's abundant sunshine.
Current electricity tariffs do not cover production costs, deterring investment and causing financial strain on the sector.
Government subsidies are insufficient, leading to frequent power outages and stalling grid-scale solar projects.
Calls for World Bank guarantees and policy changes to make solar energy more accessible and affordable.