RESUMO
Background: Achieving climate targets will require a rapid transition to clean energy. However, renewable energy (RE) firms face financial, policy, and economic barriers to mobilizing sufficient investment in low-carbon technologies, especially in low- and middle-income countries. Here, we analyze the challenges and successes of financing the energy transition in Nigeria and Brazil using three empirically grounded levers: financing environments, channels, and instruments. Results: While Brazil has leveraged innovative policy instruments to mobilize large-scale investment in RE, policy uncertainty and weak financing mechanisms have hindered RE investments in Nigeria. Specifically, Brazil's energy transition has been driven by catalytic finance from the Brazilian Development Bank (BNDES). In contrast, bilateral agencies and multilateral development banks (MDBs) have been the largest financiers of renewables in Nigeria. Policy instruments and public-private partnerships need to be redesigned to attract finance and scale market opportunities for RE project developers in Nigeria. Conclusions: We conclude that robust policy frameworks, a dynamic public bank, strategic deployment of blended finance, and diversification of financing instruments would be essential to accelerate RE investment in Nigeria. Considering the crucial role of donors and MDBs in Nigeria, we propose a multi-stakeholder model to consolidate climate finance and facilitate the country's energy transition.
RESUMO
The most common household fuel utilized in the six geopolitical zones of Nigeria is kerosene, liquified petroleum of gas (LPG), firewood, charcoal, and electricity. These energy commodities are contributing to simplify people's life. They are used in satisfying energy demands such as cooking, heating, and lighting for every single home. The energy prices were collected from 2010 to 2021, and we forecasted from 2022 to 2024. There is data available from 2010-2021 about prices for some of these commodities, but they are scattered, narrow, and in some cases, there is just a general-referred value for the whole nation and only for a single year from the past. These situations have limited the development of economic studies which undertake analyses regarding consumers' behavior. The forecasted fares for kerosene and LPG were calculated under the basis of accessible information but limited by the National Bureau of Statistics of Nigeria. The available electricity tariffs were collected from the Nigerian Electricity Regulatory Commission from the existing eleven private electricity distribution companies (DISCOS). In the case of firewood and charcoal, the costs were estimated departing from the research work of Gujba et al. [1]. In the second part, we specify the way how data was obtained and its treatment for specific time periods. The statistics include the values for each fuel in the different geopolitical regions and for the most popular presentations available to the end customers. The forecasting was developed for past and future years during the under-study period of time. The information presented in the article refers to the research study: Urban and rural household energy transition in Sub-Saharan Africa: Does spatial heterogeneity reveal the direction of the transition?