Nigeria has set renewable energy targets of 5% by 2016 and 10.5% by 2025, of which solar PV is expected to reach 500MW by 2016. However as one of the biggest oil exporters in the world it remains to be seen how successfully the country will reach its goals even though it has implemented a feed-in tariff.
Investors have concerns over conflicting policy documents and the legal procedure for distributors to purchase renewable energy. Unfortunately, ambiguity continues to pervade through the country with the loss of the FiT programmes biggest supporter with the unexplained resignation in August 2012 of the Minister of Power.
Projects have been yet approved, although the Nigerian Electricity Regulatory Commission has indicated that some developers have applied for generation licences based on solar PV.