ANALYSIS OF THE ENVIRONMENTAL AND SOCIO-ECONOMIC IMPACTS OF DECENTRALIZED POWER GENERATION IN SELECTED STATES UNDER THE ELECTRICITY ACT 2023 IN NIGERIA

Abstract

In light of the Electricity Act of 2023, this study investigates the economic and environmental effects of decentralized power generation (DPG) in the states of Nigeria. In order to supply rural and underserved communities with dependable and reasonably priced electricity, the Act supports small-scale, autonomous, and frequently renewable energy sources. DPG may improve energy availability, reduce transmission losses, and advance sustainable development by utilizing regional renewable resources. Nevertheless, obstacles including inconsistent policies, unclear regulations, and limited funding make it difficult to implement DPG programs successfully. To support DPG projects, it is suggested that a national renewable energy fund, a national renewable energy agency, and a national renewable energy policy be established.