Abstract
This paper appraised Sustainable energy development in Nigeria presents both significant opportunities and formidable challenges. The paper found out that Nigeria as one of Africa’s largest economies, has a vast array of natural resources, including considerable potential for renewable energy sources such as solar, wind, and biomass. However, despite this potential, the country remained heavily reliant on fossil fuels, particularly oil and natural gas, which account for most of its energy production. This reliance has not only contributed to environmental degradation and climate change but has also created a vulnerable energy sector subject to price volatility and geopolitical instability. The paper adopted the doctrinal method of research with primary sources of law drawn from legislations, while secondary sources were drawn from journal articles and internet sources. The urgent need to transition to a more sustainable energy system is underscored by Nigeria’s commitments under international agreements such as the Paris Agreement and the Sustainable Development Goals (SDGs), which call for reductions in greenhouse gas emissions and increased access to clean, reliable energy. The paper revealed that one of the most significant barriers to sustainable energy development in Nigeria is the inadequacy of the existing energy infrastructure. Financial constraints also play a crucial role in hindering the growth of the renewable energy sector in Nigeria. Security challenges, particularly in the Niger Delta region, pose additional risks to energy infrastructure and investment. Frequent vandalism, theft, and insurgent attacks on pipelines and energy facilities disrupt energy supply and increase operational costs. These security issues not only threaten the stability of the energy sector but also discourage the development of renewable energy projects in affected areas. The paper concluded that there is need for a multifaceted approach to overcome these challenges and achieve sustainable energy development in Nigeria, significant investment in infrastructure modernization is essential, particularly in upgrading the national grid to handle the variability of renewable energy sources. The paper recommended amongst others innovative financial mechanisms, such as green bonds and risk-sharing facilities, are recommended to address the financial constraints hindering the sector. Finally, improving security measures around energy infrastructure is crucial for protecting investments and ensuring a stable energy supply.
Keywords: Sustainable, Energy and Development