Nigeria’s electricity landscape is being reshaped by the Electricity Act 2023, which enables states to establish and regulate their own power markets. This is creating opportunities for unlocking private capital for renewables, distributed generation, off-grid solar, and mini-grids; the DEER Nigeria webinar on September 27, 2025, will seek to outline possible entry strategies, risk mitigation, and regulatory pathways for investors.
Local markets, national stakes
Nigeria’s power sector has entered a new era as states move from policy spectators to market architects under the Electricity Act 2023, shifting operational control closer to consumers, industries, and local regulators that can tailor solutions to need and geography.
Lagos State leads with the Lagos State Electricity Market (LSEM), a comprehensive framework designed to bring in private capital across the value chain and establish durable rules for planning, pricing, and performance.
Where the deals will be
The DEER Nigeria webinar, “Investing in Nigeria’s State-Level Electricity Markets,” will try to provide more light towards guiding investors through the emerging state-by-state opportunity set, spanning utility-scale renewables, commercial and industrial solar, rural mini-grids, and hybrid distributed systems.
With market development accelerating through 2030, the session promised to unpack regulatory frameworks, investment structures, credit enhancement, and how constitutional reforms now allow sub-nationals to participate in generation, transmission, and distribution within their jurisdictions. Practical takeaways include market entry playbooks, co-investment with state governments, and data needs for bankability and compliance.
Decentralisation with dividends
The investment thesis is straightforward: decentralised markets can cut losses, improve reliability, and stimulate productivity. Especially in fast-growing urban centres and industrial clusters, while advancing climate goals through clean energy deployment.
Lagos State, with an estimated population of over 20 million residents and Nigeria’s economic engine, makes its economy an important window to turn policy into projects, with spillover benefits for jobs, SMEs, and fiscal resilience as local markets mature. For investors, transparent rules, measurable outcomes, and robust governance translate into clearer risk-pricing and repeatable portfolios across states with credible reform momentum.
What investors should do next?
- Prioritise states with clear regulatory frameworks, credible institutions, and pragmatic tariff and enforcement pathways to anchor early assets.
- Leverage blended finance, guarantees, and performance-based contracts to de-risk initial pipelines and bring in commercial lenders over time.
- Align with state governments on data transparency, loss-reduction targets, and consumer protections to strengthen social licence and investor confidence.
- Sequence portfolios: start with proven solar energy generation equipment and mini-grids, then scale to distribution and grid-support assets as regulations couch in and cashflows stabilise.
Webinar details
Date: September 27, 2025, | Time: 12:00–1:00 PM WAT | Venue: Virtual (Google Meet) Registration: goto.ng/deer-september-webinar
Meet the Speakers
Ani Nkem Nnenne — Legal and Energy Policy Expert
- Advised on Nigeria’s Electricity Act 2023 and its implementation across state markets.
- LL.M., University of Warwick; certified by the Renewable Energy Institute, Scotland.
- Shaped state electricity frameworks in Enugu, Anambra, and Katsina to enable private investment.
- Advanced institutionalisation of interconnected mini-grids and rural electrification via donor-funded programs.
- Focuses on accelerating decentralised, climate-aligned energy systems across Africa through governance and compliance reform.
Uade Ahimie — Co-founder, Sustainable Stories Advocates Limited
- 30+ years across energy, finance, media, and consulting; chartered accountant.
- Authored CRAPI-FART — Perspective for an Emerging Market, exploring ESG challenges in African economies.
- Pioneered audit, risk, compliance frameworks and first sustainability report at Sahara Group (2015), replicated at Ikeja Electric and Egbin Power.
- Head of Strategy/Public Affairs at Nairametrics; board advisor at Financial Services Innovators, mentoring fintechs.
- Frequent analyst on Arise News and Smooth 98.1FM, shaping policy discourse and corporate transparency.
Omono Okonkwo — Host/Moderator; Communications Director, DEER Nigeria
- Energy Communications Specialist with 10+ years’ experience in journalism and strategic communications.
- Produced market analyses for Natural Gas World, Gas Strategies, and Nairametrics; hosts Energy QuickTakes and Energy Frontiers.
- Secured a $15,000 African Climate Foundation grant; organised ReEnergy Africa’s 2022 conference.
- Frequent commentator on Arise News and Channels TV on oil, gas, and renewables.
- Certifications from Duke University and SciencesPo; leads cross-border teams driving sustainable energy thought leadership.
