For many years now, Nigeria has been facing an extreme electricity shortage. This deficiency is multi-faceted, with causes that are financial, structural, and socio- political, none of which are mutually exclusive.
We are well aware that one third of the world’s population has no electricity. The majority of these people live in rural, remote areas of the world’s poorest nations. Global development is a multi-billion dollar industry, with the World Bank providing huge sums of money to fund large-scale projects. In the past ten years, global electricity demand has grown by 40%. During this time, the use of RE has expanded at ten times the rate of fossil fuels. Experts predict that the world’s electricity demand could triple by 2020, a colossal increase that will be fuelled by the industrialization of developing countries. As a specialty provider and integrator of RE systems designed for developing communities.
The world is on the verge of unprecedented growth in the production and use of renewable energy and biofuels. Although these energy sources supply less than 5% of the world’s energy needs, fluctuating oil prices, national security concerns, global climate concerns, the desire to increase farm incomes and a host of new and improved technologies are propelling many governments to enact powerful incentives for the production and use of alternative sources of energy. This, in turn, is sparking a large new wave of interest and investment in biofuels and renewable energy.
For Africa, the potential to be an active producer of alternative sources of energy is high. Not only is Africa a potential superpower in renewable energy and biofuels, as concluded in studies and assessments conducted by the International Energy Agency (“IEA”) and the World Bank. A recent World Bank report estimates that just in the energy sector, sub-Saharan Africa could host in excess of 3,200 projects that could attract over $150 billion in investment, produce additional carbon revenues of $98 billion and reduce greenhouse gases by some 9.8 billion tonnes of carbon dioxide through the life of the projects. These projects would add 150 GigaWatts of renewable electricity capacity, more than twice the current installed capacity.
Overall, Africa has 13% of world’s population and produces 7% of the world’s commercial energy, but it consumes only 3% of the world’s commercial energy. The IEA estimates that, by 2030, there could still be close to 600 million people in Africa without access to electricity, out of a total of 1.4 billion worldwide.
Marketing Strategy
Nigeria is a country of 175 Million people. Basic Inverter system is priced at 400,000.00 Naira for a Three Bedroom and 200,000.00 Naira for a One Bedroom Flat with low power Appliances. Market research conducted in Nigeria strongly suggests that this price is feasible, despite the fact that it represents 40% of a Middle class family’s annual income. An Inverter system is safe, more reliable, provides better lighting, and promises better value than the alternatives.
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