An Overview of the Legal and Regulatory Framework for Renewable Energy and Cleantech in Nigeria

October 2021

Abstract

Despite having good solar irradiation, and other renewable energy resources, Nigeria continues to suffer power outages owing to, amongst others, inadequate generation, and distribution capacity. Nigeria has formulated several policies and incentives to encourage the use of renewable energy resources in meeting the country's electricity demands. Globally, climate change and other Environmental, Social and Governance (“ESG”) concerns are driving preference in the use of renewable energy ahead of fossil fuels in the electricity industry and even other sectors, such as transportation. Also, development in technology is creating new markets for renewable energy and cleantech such as battery storage, electric vehicles etc. From the foregoing, the power sector in Nigeria presents attractive investment opportunities. This article gives an overview of the licencing and regulatory regime for renewable energy in Nigeria including hydro, solar, and wind energy as well as the manufacturing of equipment.

Authors

Chukwunonso Onwuzu

Legal Attorney , Oando Energy Resources Inc., Nigeria

Chukwunonso Onwuzu is a seasoned negotiator, strategic planner, and risk management expert. Prior to joining OER, Chukwunonso worked with Udo Udoma & Belo-Osagie, one of Nigeria's largest 'magic triangle' law firms, where he advised on a wide range of areas including energy and power, oil and gas, projects and infrastructure finance, maritime, corporate finance, mergers (and acquisitions), divestments, employment, private equity, distribution and supplies, company secretarial, regulatory compliance, tax, general corporate commercial legal advisory. Chukwunonso has also written other published works.

Adebisi Sanda

Governance Manager, Oando Energy Resources Inc., Nigeria

Adebisi Sanda is a Nigerian attorney with years of experience in governance, private equity, M&A, banking, and finance. He is a Governance Manager at Oando Energy Resources Inc., and a legal and regulatory counsel at Oando Clean Energy Limited. Previously, he worked in a leading law firm in Nigeria, Banwo & Ighodalo where he advised on private equity and finance transactions. He also worked (on secondment from Banwo & Ighodalo) as the primary legal counsel to Africa Infra Plus Fund, an infrastructure fund (managed by Africa Plus Partners Limited), where he managed various infrastructure projects in education, power, healthcare, and water, and provided secretarial support to the advisory board and to the investment committee.

Companies

Oando Energy Resources Inc.

Oando Energy Resources is a leading African exploration and production company. It's asset base includes exploration, development, and production assets for both oil and gas, situated on and offshore in Nigeria, and the Exclusive Economic Zone (EEZ) of São Tomé and Príncipe.

Oando Energy Resources Inc.

Oando Energy Resources is a leading African exploration and production company. Its asset base includes exploration, development, and production assets for both oil and gas, situated on and offshore in Nigeria, and the Exclusive Economic Zone (EEZ) of São Tomé and Príncipe.

The US innovates, China replicates, and the EU regulates is a punchline in the policy debate; but beyond whether it is true or not there is certainly a tendency in...Read more

Alfonso Levote

General Consel & Investor Relations, Rosetti Marino S.p.A., Italy

Interpretation of the Principle of Stability Applicable to the Terms Governing Subsoil Use in the Context of Legislation of the Republic of Kazakhstan

On December 27, 2017, the President of the Republic of Kazakhstan signed the Code on Subsoil and Subsoil Use (hereinafter - the Code). According to the transitional period provisions, the...Read more

Nurzhan Kakimov

First Level Lawyer, Karachaganak Petroleum Operating B.V. , Kazakhstan

Redrawing the Boundaries: Dodd-Frank's Impact on the Regulatory Framework of the Energy Market

On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) into law. Title VII of Dodd-Frank establishes a new regulatory framework for over-the-counter...Read more

Aaron Horn

Vice President, Office of General Counsel, Nasdaq Omx, USA

Andreas Gustafsson

Senior Advisor, Nasdaq, Sweden

The Effect of Multiple Regulatory Regimes on the Nigerian Petroleum Industry

Attention is usually focused on the legal and institutional frameworks for environmental management in Nigeria's oil industry. This area of environmental management is one in which the oil industry is...Read more

Amid Adekunle

Advisor: Regulatory Affairs Management, Chevron, Nigeria

An Overview of the Legal and Regulatory Framework for Renewable Energy and Cleantech in Nigeria

Abstract

Authors

Companies

Oando Energy Resources Inc.

Oando Energy Resources Inc.

Related Papers