Emerging Trends in Resource-Rich Sub-Saharan Africa and a Spotlight on the Nigerian Transitional Energy Market

Abstract

The sub-Saharan Africa region is rich in energy resources such as oil and gas, solar and
biomass, including mineral resources that are essential for the technologies that are needed in
securing reliable and sustainably low-carbon energy systems globally. As urbanization and
economic growth policies gain traction across the region, it will be essential to develop the local
institutions, framework(s) and market structures that will ensure these resources can be accessed
and utilized efficiently. Notably, several countries in the region have been on a path towards
institutional reform to promote economic growth, industrialization, and energy access and reliability.
Thus, considering the significant amount of investments required and the need to foster healthy
collaborations between private and public sector stakeholders, the policymakers in various contexts
often need to work towards creating a rules-based, investment friendly environment, equitably
allocating scarce resources, transparent revenue management framework(s), and economic
diversification. This Article begins by highlighting the emerging trends and outlook for energy sector
transformation and reforms in selected countries across the region. Since Nigeria has traditionally
been the leading energy producer in the region with the biggest economy and peculiar experiences
in energy reforms and regulation, this Article will focus on and explore the recent legal and regulatory developments in Nigeria’s transitional energy market as a signpost to plausible
challenges, solutions, and opportunities.