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2025-11-08 03:25:30
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We’ve been watching Nigerian President Ahmed Bola Tinubu since he won the February 2023 presidential election to understand his vision for running Nigeria and its economy—the largest in Africa. After three weeks in office, we see four key developments, all related to the energy sector: The end of fuel subsidies, which tripled the price of fuel.Approval of the 2023 electricity bill that opened the electricity market to independent power producers (IPP) and replaced the more restrictive legislation in place since 2005.An expensive game of one-upmanship between two billionaires on the Nigerian stock exchange—the competition centered around ownership of shares in a company invested in the energy sector.Wale Tinubu’s pivot to renewable energy opportunities, especially electric vehicles (EV).Taken together, these actions signal two things: that Tinubu's first major initiative is to overhaul Nigeria's energy sector and that the contest for stakes in Nigerian energy is taking off in earnest. W...
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14 North Strategies
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