Nigerians are increasingly turning to solar power as an alternative energy source due to rising electricity costs. In 2024, the Nigerian Electricity Regulatory Commission (NERC) raised electricity tariffs for urban customers by 240%, with Band A customers now paying ₦209/kilowatt-hour. This significant price hike has left many households struggling to afford basic electricity needs.

For a three-person household on Band A with basic appliances, monthly electricity costs can reach ₦45,000, more than half of Nigeria’s new minimum wage of ₦70,000. Furthermore, fuel prices have quadrupled, putting additional strain on households.

In response to these challenges, many Nigerians are exploring solar power as a sustainable and cost-effective alternative. However, the upfront costs of solar systems can be prohibitively expensive, ranging from ₦400,000 for a basic setup to ₦20 million for a fully off-grid solution.

Despite these costs, many Nigerians are finding that solar power can provide significant long-term savings. Social media strategist Agboola Sodiq, for example, spent ₦4 million on a 2.5kVA inverter system with six 400Watt solar panels. Since switching to solar, Sodiq has reduced his electricity bills from ₦300,000 per month to just ₦40,000 per year.

The demand for solar power grows, and companies are offering flexible financing options, such as microloans and pay-as-you-go systems, to help Nigerians overcome the financial hurdle.

Government incentives and subsidies for renewable energy adoption are also being discussed, although implementation has been slow.

Overall, the shift towards solar power in Nigeria reflects a growing desire for energy independence and sustainability in the face of rising electricity costs and an unreliable grid.