The West African countries are endowed with significant renewable energy resources and ECOWAS Member states have resolved to improve their access to modern, reliable and affordable energy services, energy security, reduction of energy related GHG emissions and the climatic change impacts on the energy systems in their countries. Nigeria is one of these West African countries and as the most populous African country with the biggest economy it was taken as a case study for the research work here. Nigeria is a huge market for foreign investors in its energy sector considering its enormous renewable energy resources and an adoption of RE to over-come energy poverty.

This thesis project was conducted to establish the business prospects of renewable energy adoption in the West African countries with a major focus on the leading economy there. The goal was to evaluate the current energy situation and demand for electricity in Nigeria, and the prospects for foreign investors into its energy market. Hanlog Oy in Finland was the commissioner of this research work.

A qualitative approach was used to gather relevant information which involved personal observations, interviews with the regulators in the Nigerian energy market, focus groups such as telecommunication companies and relevant associations, and some locals of the country. This thesis project provided information to conclude that Nigeria had great potential for renewable energy businesses and was creating an enabling environment to attract foreign investors like Hanlog Oy to achieve its Millennium Development Goals to be a leading economy in 2020. The major gap between the demand and supply of energy in Nigeria would definitely position any foreign investor to compete for a share in market.