The Nigerian Independent System Operator has said Nigeria lost more than ₦2.376 trillion to grid underutilisation and capacity payments between 2015 and 2026.
Managing Director and Chief Executive Officer of NISO, Mr Abdu Bello, disclosed this at the 11th Nigeria Energy Forum 2026 conference in Lagos.
The theme of the conference was “Upscaling Value Addition for Sustainable Industrialisation.”
Bello, who was represented by NISO’s General Manager of Research, Mr Deji Ojo, said the power sector must move beyond infrastructure expansion to efficiency, reliability and stronger market performance.
He said NISO was working to reposition Nigeria’s electricity system by improving operational discipline, grid stability and market competitiveness.
According to him, Nigeria had an available generation capacity of 7,311 megawatts as of May 2026.
However, the average dispatched generation that was actually delivered and converted into economic value stood at only 4,222 megawatts.
Bello said the gap left about 3,162 megawatts of stranded capacity that was not being put to productive use.
He said one of NISO’s major objectives is to ensure that available electricity is translated into real economic value for homes, businesses and industries.
The NISO chief said underutilised grid capacity weakens industrial growth, reduces investor confidence and increases the cost of doing business.
Also speaking, the Group Managing Director of Odu’a Investment Company Limited, Mr Abdulrahman Yinusa, said reliable electricity remains essential to industrial development.
Yinusa, who was represented by the Executive Director of Investment and Business Development, Mr Yemi Ajao, said Nigeria has many raw materials needed by the global market.
He said the real challenge is whether the country can turn those raw materials into finished goods instead of exporting them cheaply.
The Chief Executive Officer of All On, Caroline Eboumbou, said Nigeria’s energy future would 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 had helped young innovators develop clean energy ideas.
She said some previous winners of the challenge had continued their entrepreneurial journey through All On’s support programmes.
According to her, three alumni 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 Board, Mr Omatsola Ogbe, said sustainable development requires more local production and manufacturing.
Ogbe, represented by Mr Suleiman Ozimede, General Manager of Monitoring, urged Nigerians to support made-in-Nigeria products and make better use of local human and material resources.
In a keynote presentation, the Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure, Khalil Halilu, said the agency was building a system where innovation is created locally, produced locally and commercialised globally.
The Chief Executive Officer of the Rural Electrification Agency, Abba Aliyu, said the future of energy in Nigeria would be measured by how many businesses are empowered and industries revived.
Aliyu, who was represented by Abba Hayatudeen, Senior Adviser on Strategy, said sustainable energy must unlock prosperity and support economic growth.
Mrs Ibironke Olubamise, National Coordinator of the GEF Small Grants Programme in Nigeria, said the programme helps communities address environmental challenges while improving livelihoods.
She said GEF SGP financing supports developing countries in meeting international environmental goals through community-level interventions.
NEF Co-Chair, Mr Adekunle Makinde, said the Nigeria Energy Forum had created opportunities for young innovators whose ideas might otherwise have remained unused 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 of KoBold Metals, said artificial intelligence was helping to guide exploration and development decisions through advanced sensors, data systems and predictive models.
Prof. 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.
Mr Febisola Oyeniyi, General Manager of Enterprise Sales at MTN, said digital technology and sustainability would play a major role in shaping Nigeria’s energy future.
He said digital innovation is powering the future of energy, while sustainability is powering the future of digital transformation.
Dr Kazeem Raji, Director-General of the National Board for Technology Incubation, said the board was created to bridge the gap between innovation and industrialisation.
Dr Bamise Olanrewaju, NEF Innovation Director, said the All On TIEC 4.0 competition attracted 107 pitch decks from 36 tertiary institutions across 20 states.
She said Coolbox from the University of Lagos, led by Samuel-Rotua Richard, won the first prize and public vote award.
AutaNet, led by Fadekemi Haruna, placed second, while DP2P Energy Trading, led by Muhammad Abdulraheem, came third. Both teams were from the Federal University of Technology, Minna.
In his opening remarks, NEF Chairman, Dr Oluwole Daniel Adeuyi, said the 2026 theme reflected Nigeria’s opportunity to turn abundant resources into competitive industries, quality jobs, stronger exports and sustainable prosperity.
He said the future would belong to countries that add value, manufacture 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 industrialisation.
