Nigeria: Nigeria Designed the Cure for Its Electricity Crisis. It Stopped Administering It Halfway.
For years, the World Bank, the African Development Bank and their peers have de-risked Nigerian power one project at a time, even backstopping the single buyer itself.
Nigeria's National Energy Compact, agreed with the World Bank and the African Development Bank, has put a clock on it for the first time, specifying that up to 75 per cent of grid electricity will be traded through bilateral contracts by 2027.
This is the classic trap of the single-buyer model, and Nigeria is far from the only African country caught in it, as variants of the same arrangement strain power utilities across the continent.
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