| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Nigeria Power Report Q3 2010
Market |
Energy and Utilities |
Report Type |
Market Research |
Country |
Nigeria |
Published |
21 July 2010 |
Number of Pages |
55 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
File Format |
- |
In this new report, we forecast that Nigeria will account for 2.39% of Middle East and Africa (MEA) regional power generation by 2014, with the country struggling to narrow the supply/demand gap. The MEA power generation estimate for 2009 is 1,225 terawatt hours (TWh), representing an increase of 1.9% over the previous year. We are forecasting an increase in regional generation to 1,572TWh by 2014, representing a rise of 23.2% between 2010 and the end of the period.
Thermal power generation in 2009 is estimated at 1,064TWh, accounting for 86.9% of the total electricity supplied in the region. Our forecast for 2014 is 1,293TWh, implying 18.8% growth in 2010- 2014 that reduces slightly the market share of thermal generation to 82.3% – thanks in part to environmental concerns that should be promoting renewables, hydro-electricity and nuclear generation. Nigeria's thermal generation in 2009 was an estimated 18TWh, or 1.69% of the regional total. By 2014, the country is expected to account for 2.20% of regional thermal generation.
Direct burning of wood and waste materials was the dominant energy source for Nigeria in 2009, accounting for an estimated 73% of primary energy demand (PED), followed by gas at 16% and oil with a near 10% share of PED. Regional energy demand is forecast to reach 1,075mn tonnes of oil equivalent (toe) by 2014, representing 19.3% growth over the period since 2010. Nigeria's estimated 2009 market share of 12.37% is set to rise to 12.44% by 2014.
Nigeria takes eighth place above only Kuwait and Algeria in the updated Power Business Environment rating. Its position should prove secure over the medium term, although South Africa just two points above is likely to remain out of immediate reach. Import dependency is average for the region, while the proportion of renewables is relatively high. However, the power sector is not particularly competitive, with limited progress towards privatisation.
We forecast that Nigeria's real GDP growth will average 7.40% a year between 2010 and 2014, with 2010 growth assumed to be 7.50%. The population is expected to expand from 151mn to 167mn over the period, with GDP per capita and electricity consumption per capita forecast to increase by 61% and 26% respectively. Power consumption is expected to increase from an estimated 23.3TWh in 2009 to 34.7TWh by 2014, providing an improvement in market coverage on the basis of 9.6% average annual growth (2010-2014) in electricity generation. Losses of more than 2.5TWh during power transmission and distribution mean the market is likely to remain tight for several years.
Between 2010 and 2019 we forecast a 170.4% increase in Nigerian electricity generation, at the top of the MEA range. This equates to 68.9% in 2014-2019, up from 60.1% in 2010-2014. PED growth is set to rise from 21.6% in 2010-2014 to 27.6% in 2014-2019, representing 55.1% for the entire forecast period. Hydro-power use is forecast to increase by 71% between 2010 and 2019, while thermal power generation is expected to rise 212% during the period, fuelled largely by natural gas. Details of the longer-term power forecasts can be found later in this report.
Visitor Comments
|
All posts are pre-moderated and must obey the house rules. |
|
Last Viewed
Nigeria Power Report Q3 2010Nigeria Commercial Banking Report Q2 2010
New Look: New Store
New dynamics in digital advertising
New Cars in Western Europe
Become an Affiliate
Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?
Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website. If a sale is made from your visitor, you earn commission (a fixed percentage of the price of a product).
Custom Research
Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.
News
Smart grid market to experience strong growth over the next decade
Orders worth over $50 million won by ABB
Linde LienHwa announces long-term deal with Samsung Electronics
ABB wins $33 million order in India to strengthen power grid
Market Insights
Philippines Renewable Energy Market Insight
Turkey's Renewable Energy Market
