RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Solar Panel Imports Surge to 2.9 Million Units Worth N435bn in 2025 as Power Outages Persist

Victoria Attah by Victoria Attah
March 31, 2026
in Economy
Reading Time: 2 mins read
A A
0
Nigeria Procures $1.5 Billion Loan from the US to Support Solar Power Infrastructure
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Nigeria’s worsening electricity crisis continued to fuel a sharp rise in solar energy adoption last year, with the country importing approximately 2.9 million solar panels valued at over N435 billion in 2025, according to data from the National Bureau of Statistics (NBS).

The Foreign Trade Statistics report, obtained on March 30, 2026, shows that solar panel imports remained consistently high throughout the year, reflecting households and businesses turning to alternative power sources amid frequent blackouts and unreliable grid supply.

AlsoRead

FG to Issue N729 Billion Bond to Settle Legacy Debts Owed to Power Generators

NRS Gives Large Taxpayers July 31 Deadline to Fully Adopt E-Invoicing System

Nigeria’s Foreign Reserves Hit $51.86 Billion, Highest in 17 Years

Quarterly breakdown reveals that photovoltaic cells assembled into modules or panels worth N125.29 billion were imported in the first quarter, followed by N117.39 billion in the second quarter. Imports dipped to N92.00 billion in the third quarter — a 21.6% decline from the previous quarter — before rebounding 9.6% to N100.83 billion in the fourth quarter. The overall annual total stood at approximately N435.52 billion.

Assuming an average cost of N150,000 per unit for larger panels (400W–600W+), the import value translates to roughly 2.9 million panels. For smaller, more affordable panels (10W–100W) commonly used by low-income households, the same value could represent as many as 17.4 million units at an average price of N25,000. Medium-sized panels (150W–300W), popular among small businesses and residential users, suggest an estimated 6.6 million units imported at around N66,000 each.

The wide variation in estimated volumes underscores the growing penetration of entry-level solar solutions as Nigerians seek cheaper, scalable alternatives to cope with persistent power shortages.

The surge in imports occurred despite the Federal Government’s push to promote local manufacturing of solar panels and reduce reliance on foreign products. Officials have repeatedly stated that Nigeria now has the capacity to produce solar components domestically, yet demand for imported panels remained strong throughout 2025.

The data highlights the scale of Nigeria’s energy access gap and the increasing role of solar power as a reliable backup or primary source for both residential and commercial users. As power outages continue to disrupt daily life and economic activities, solar adoption is expected to remain robust in the near term, even as policymakers intensify efforts to boost local production and improve grid reliability.

Analysts note that while the rise in solar imports signals growing energy self-reliance at the individual and business level, it also reflects the urgent need for comprehensive power sector reforms to address systemic challenges and reduce long-term dependence on imported solutions.

Previous Post

LIRS Extends Deadline for Individual Tax Returns Filing to April 14

Next Post

World Bank Approves $500 Million Loan to Boost Nigeria’s Agricultural Productivity and Food Security

Related News

DMO Announces Subscription Offering for Federal Government Savings Bonds.

FG to Issue N729 Billion Bond to Settle Legacy Debts Owed to Power Generators

by Jide Omodele
July 20, 2026
0

The Federal Government is set to raise approximately N729 billion through a second sovereign bond issuance to clear verified legacy...

Senate Committee Frowns at N17 Trillion Loss from Tax Waivers, Urges FIRS Reform

NRS Gives Large Taxpayers July 31 Deadline to Fully Adopt E-Invoicing System

by Victoria Attah
July 20, 2026
0

The Nigeria Revenue Service (NRS) has set July 31, 2026, as the final deadline for all large taxpayers to fully...

Currency in circulation drops massively in the third quarter of 2022.

Nigeria’s Foreign Reserves Hit $51.86 Billion, Highest in 17 Years

by Stephen Akudike
July 16, 2026
0

Nigeria’s external reserves have climbed to $51.86 billion, the highest level recorded in more than 17 years, according to the...

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Approves $11.50/Barrel Tax Credit for Shell’s Bonga Southwest Aparo Project

by Victoria Attah
July 15, 2026
0

The Federal Government has granted Shell Plc and its partners a special production-linked tax credit of $11.50 per barrel for...

Next Post
World Bank Emphasizes Cash Transfers to Break Poverty Cycle in Nigeria

World Bank Approves $500 Million Loan to Boost Nigeria’s Agricultural Productivity and Food Security

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NMDPRA inaugurates oil and gas industry service permit portal.

Nigerian Crude Surges to 10-Day High as US-Iran Tensions Disrupt Key Oil Route

July 20, 2026
DMO Announces Subscription Offering for Federal Government Savings Bonds.

FG to Issue N729 Billion Bond to Settle Legacy Debts Owed to Power Generators

July 20, 2026

Popular Story

  • Senate Committee Frowns at N17 Trillion Loss from Tax Waivers, Urges FIRS Reform

    NRS Gives Large Taxpayers July 31 Deadline to Fully Adopt E-Invoicing System

    0 shares
    Share 0 Tweet 0
  • FG to Issue N729 Billion Bond to Settle Legacy Debts Owed to Power Generators

    0 shares
    Share 0 Tweet 0
  • FG Releases Revised Import Prohibition List, Bans Paracetamol, Tomato Paste and others.

    0 shares
    Share 0 Tweet 0
  • Nigerian Crude Surges to 10-Day High as US-Iran Tensions Disrupt Key Oil Route

    0 shares
    Share 0 Tweet 0
  • Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>