Nigeria may, in five years, generate 10,000 megawatt (mw) of electricity if United States (US) President Barack Obama implements the report of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA) before leaving office in January.
The PAC-DBIA comprising 15 American private sector leaders with business operations throughout Africa was appointed by Obama in 2014 to advise him on how to advance the US-Africa business agenda. It recommended, among others, the acceleration of energy infrastructure in Nigeria where the U.S. is expected to pursue a detailed action plan to achieve 10,000mw of electricity.
The report advised that as a result of Nigeria’s enormous potential as the largest country in the continent in terms of both population and GDP, and because the electricity generation and distribution capacities in Nigeria are among the least developed on the continent, President Obama should focus on Nigeria as the focal point for energy infrastructure on the continent. They recommended that US and Africa policy makers should collaborate on identifying and facilitating investment in electricity generation, especially for the hard- to-finance early stage projects.
Source: Energy Mix Report