Nigeria's New Multi-Tier Electricity Market

Nigeria’s New Multi-Tier Electricity Market Attracts $2bn Investments, Pushes Sector Revenue By 70% In 2024

Independent.ng reports that Nigeria’s electricity sector saw a significant uptick in investment and revenue in 2024 due to the introduction of a new multi-tier electricity market. The key figures highlighted include roughly $2 billion in investments and a 70% increase in sector revenue for the year.

Key Points

A new multi-tier electricity market attracted approximately $2 billion in investments in 2024.
Sector revenue rose by about 70% in 2024 as a result of market reforms.
The reforms and market structure changes are positioned as catalysts for improved investment climate and revenue growth.

Quote: “Nigeria’s electricity market reforms are delivering tangible investor confidence and revenue growth for the sector.”

Context

The article emphasizes that the reforms underpinning the multi-tier market are central to the observed financial gains, with improvements in investment flows and revenue attributed to policy changes, market design, and regulatory support.

Summary

The piece presents a positive outlook on the impact of Nigeria’s multi-tier electricity market on investment and revenue in 2024, underscoring the role of structural reforms in driving sector growth.

Author’s summary: Nigeria’s multi-tier electricity reforms boosted 2024 investments to about $2 billion and increased sector revenue by around 70%, signaling stronger investor confidence and growth potential.

Independent Newspaper Nigeria — 2025-12-04