The Energy Giant of Africa?
Despite Nigeria’s abundance of fossil and renewable energy resources, Nigerians still experience acute energy poverty: they either lack access to modern energy sources or have to cope with inadequate supply and poor quality. Close to 95 million people are fully reliant on traditional wood stoves for cooking, with the attendant health implications, and a large but unknown number of especially urban households rely on generators for their electricity needs. The lack of access to energy is directly affecting livelihoods, lowering quality of life and hurting the economy. Presently, oil and gas contribute over 90% of the nation’s foreign earnings and 70% of federal revenue.