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Nigeria’s independent system operator said Nigeria lost more than ₦2.376 trillion due to network underutilization and capacity payments between 2015 and 2026.
The Managing Director and Chief Executive Officer of NISO, Abdu Bello, disclosed this at the 11th Nigeria Energy Forum 2026 conference in Lagos.
The theme of the conference was “Increasing added value for sustainable industrialisation”.
Bello, represented by NISO Director General of Research, Deji Ojo, said the energy sector must move beyond infrastructure expansion towards efficiency, reliability and stronger market performance.
He said NISO is working to reposition Nigeria’s electricity system by improving operational discipline, grid stability and market competitiveness.
According to him, Nigeria had an available generating capacity of 7,311 megawatts as of May 2026.
However, the average dispatched generation actually delivered and converted into economic value was only 4,222 megawatts.
Bello said the gap leaves about 3,162 megawatts of stranded capacity that isn’t being used productively.
He said one of NISO’s main goals is to ensure that available electricity is translated into real economic value for homes, businesses and industries.
The NISO chief said underutilized network capacity weakens industrial growth, reduces investor confidence and raises the costs of doing business.
Also, Group Chief Executive Officer of Odu’a Investment Company Limited, Abdulrahman Yinusa, said reliable electricity remains essential for industrial development.
Yinusa, represented by Executive Director Investment and Business Development, Yemi Ajao, said Nigeria has many raw materials needed by the global market.
According to him, the real challenge is whether the country will be able to transform those raw materials into finished products instead of exporting them at low cost.
All On CEO Caroline Eboumbou said Nigeria’s energy future will depend not only on policy and investment, but also on the creativity of its people.
Eboumbou, represented by Jadesola Rawa, Senior Grant Associate at All On, said the organisation’s partnership with the Tertiary Institutions Student Energy Challenge has helped young innovators develop clean energy ideas.
He said some previous challenge winners have continued their entrepreneurial journey through All On’s support programmes.
According to her, three former students have received additional support to strengthen their businesses, refine their solutions and move closer to commercial success.
The Executive Secretary of the Nigerian Content Development and Monitoring Council, Omatsola Ogbe, said sustainable development requires greater local manufacturing and production.
Ogbe, represented by Suleiman Ozimede, Director General of Monitoring, urged Nigerians to support products made in Nigeria and make better use of local human and material resources.
In a keynote presentation, National Science and Engineering Infrastructure Agency Executive Vice President Khalil Halilu said the agency is building a system where innovation is created locally, produced locally and marketed globally.
The Chief Executive Officer of the Rural Electrification Agency, Abba Aliyu, has said the future of energy in Nigeria will be measured by the number of businesses that are strengthened and industries that are revived.
Aliyu, represented by Abba Hayatudeen, Senior Advisor for Strategy, said sustainable energy must unlock prosperity and support economic growth.
Mrs. Ibironke Olubamise, National Coordinator of the GEF Small Grants Program in Nigeria, said the program helps communities address environmental challenges while improving livelihoods.
He said GEF SGP funding helps developing countries achieve international environmental goals through community-level interventions.
NEF Co-Chairman, Adekunle Makinde, said the Nigeria Energy Forum had created opportunities for young innovators whose ideas would otherwise go untapped after graduation.
He said the forum now connects students and early-stage innovators with investors who can provide grants and support to scale clean energy solutions.
Mfikeyi Makayi, CEO Africa at KoBold Metals, said artificial intelligence is helping to guide exploration and development decisions through advanced sensors, data systems and predictive models.
Professor Nnanyelugo Ike-Muonso, Director-General of the Raw Materials Research and Development Council, said the council remained focused on promoting the optimal use of Nigeria’s raw materials for industrial growth.
Febisola Oyeniyi, general manager of corporate sales at MTN, said digital technology and sustainability will play an important role in shaping Nigeria’s energy future.
He said digital innovation is fueling the future of energy, while sustainability is fueling the future of digital transformation.
Dr Kazeem Raji, director general of the National Technology Incubation Council, said the council was created to bridge the gap between innovation and industrialisation.
Dr Bamise Olanrewaju, director of innovation at NEF, said the All On TIEC 4.0 competition attracted 107 submissions from 36 tertiary institutions across 20 states.
He said Coolbox of the University of Lagos, led by Samuel-Rotua Richard, won the first prize and the public vote prize.
AutaNet, led by Fadekemi Haruna, placed second, while DP2P Energy Trading, led by Muhammad Abdulraheem, came third. Both teams were from Federal University of Technology, Minna.
In his opening remarks, NEF President, Dr Oluwole Daniel Adeuyi, said the 2026 theme reflects Nigeria’s opportunity to transform abundant resources into competitive industries, quality jobs, stronger exports and sustainable prosperity.
He said the future will belong to countries that add value, produce competitively, innovate boldly and build resilient industries.
The conference brought together energy experts, investors, policymakers, development partners, technology leaders and young innovators to discuss how Nigeria can use sustainable energy to drive industrialization.
