An assessment of the challenges facing power infrastructure financing In Nigeria

Infrastructure is the absolute determinant of economic growth and development of developed and developing countries. Infrastructural financing addresses the decayed nature of power infrastructure. The purpose of this study is to determine the challenges facing financing of power infrastructure in developing countries. For this research study, data was collected through primary and secondary sources. For the primary source, data was collected through a questionnaire format, and was targeted to the respondents responsible for the development of power infrastructure in Nigeria. The challenges facing the financing of power infrastructure in Nigeria were found to be foreign exchange and currency differences, limited access to loans and other forms of investment, lack of affordable long-term funding, lack of quick returns on power investments were seen as some of the challenges facing power infrastructure financing in Nigeria. With the decayed nature of investment in the power infrastructure sector in Nigeria, there is great need to introduce effective policies to stifle the challenges facing power infrastructure investment in the region, for better economic growth and development. There will be great investment of private capital and concessionaries in the power infrastructure sector with the elimination of the challenges facing financing in the sector. This study contributes greatly to the development of power infrastructure in Nigeria and also enhances the development of power infrastructure that will boost economic liberation and sustainable growth in Nigeria and the entire continent.