Bloomberg: Nigeria Power Industry Held Back by Lack of Credit, Gas

Nigeria’s electricity industry is being hindered by producers’ inability to raise finance and natural-gas shortages, curbing companies’ ability to boost investment in output as the country suffers from daily blackouts, an energy regulator said.

Peak electricity output of Africa’s biggest economy is about 3,800 megawatts, with another 1,500 megawatts unavailable because of gas shortages, said Sam Amadi, chairman of the Nigerian Electricity Regulatory Commission, which oversees the power industry. South Africa, with a third of Nigeria’s population, has eight times more installed capacity. One megawatt is enough to provide energy to 2,000 average European homes, or about 333 in Japan.

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