Nigeria’s Energy Sector Moves Toward Decentralised Power and Indigenous Upstream Growth

Nigeria’s electricity sector is undergoing a major transformation under the Electricity Act 2023, which allows states to generate, distribute and regulate power within their borders. Policymakers are looking to India’s sub‑national market reforms for guidance, noting that open‑access arrangements and strong state regulatory commissions can boost competition, but also warning that financial stress in distribution companies and uneven state performance could fragment the market.

At the same time, Nigeria’s hydrocarbon sector is seeing a surge of indigenous operators expanding upstream production and gas infrastructure. Seplat Energy, after acquiring ExxonMobil’s Nigerian assets, aims for 200,000 boe/d and over 1 billion scfd of domestic gas by 2030, with key projects such as the ANOH gas processing plant showcased at African Energy Week 2026. Other local firms like SunTrust Atlantic Energies, Lekoil Nigeria and Emadeb Exploration are highlighting mature‑field optimisation, onshore export terminals and offshore oil discoveries, signalling a broader shift toward indigenous leadership and financial innovation in the country’s energy future.