The Nigerian off-grid solar market is among the fastest-growing in Africa, increasing at a 22 per cent average annual rate during the past five years, according to a study conducted by Boston Consulting Group and All On, a Shell-funded impact investment company.
The report, however, said the country had underperformed its peers in Africa in penetration of off-grid solar and had a long way to go before its solar market could be considered robust.
It said, “Nigeria’s installed photovoltaic panel per capita amounts to only about 1 watt compared to an average of 8 watts in similar emerging market, indicating a big opportunity for further growth in the country…
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