The year 2024 was a challenging one in Nigeria’s power sector, marked by recurring grid collapses and vandalism of electricity infrastructure. The Nigerian national grid collapsed several times, resulting in widespread power outages across the country. The Transmission Company of Nigeria (TCN) attributed the collapses to vandalism and technical issues.
The sector also experienced broad challenges such as electricity policy enforcement difficulty, regulatory uncertainty, gas supply, transmission system constraints, and major power sector planning shortfalls.
In mid-2024, the Nigerian Electricity Regulatory Commission (NERC) approved a tariff hike for electricity consumers. In a significant development, the TCN was unbundled into two separate entities.
