Appendix
G. Glossary
Power-sector acronyms accumulate fast. This glossary defines every Nigeria-specific term used in the deck.
| Term | Definition |
|---|---|
| C&I | Commercial & Industrial — large electricity consumers like factories, malls, banks, telecom towers. |
| DARES | Distributed Access through Renewable Energy Scale-up — World Bank-funded Nigerian electrification program. |
| DisCo | Distribution Company — one of 11 federally privatized electricity distributors (e.g., Ikeja Electric, Eko Electric). |
| EDC | Export Development Canada — Canada's export credit agency, key source of project finance for Canadian companies abroad. |
| FinDev Canada | Canada's development finance institution, focused on emerging markets. |
| GenCo | Generation Company — federally licensed electricity producer. |
| IPP | Independent Power Producer — non-utility power generator selling to a grid or directly to customers. |
| LASERC | Lagos State Electricity Regulatory Commission — Lagos's state-level power regulator under the 2023 Act. |
| MW | Megawatt — 1,000 kilowatts. A 100 MW plant can power roughly 70,000–100,000 Nigerian households at typical consumption. |
| MWh | Megawatt-hour — unit of energy delivered. |
| Naira (₦) | Nigerian currency. Has depreciated ~70% against USD since 2022. |
| NEPA | National Electric Power Authority — pre-privatization federal monopoly. Predecessor to PHCN. |
| NERC | Nigerian Electricity Regulatory Commission — federal power regulator. |
| NISO | Nigerian Independent System Operator — unbundled from TCN in 2024 to handle market operations. |
| PHCN | Power Holding Company of Nigeria — successor to NEPA, itself unbundled in 2013. |
| PPA | Power Purchase Agreement — long-term contract between a generator and an offtaker setting price and quantity. |
| REA | Rural Electrification Agency — Nigerian federal agency for off-grid electrification. |
| SPV | Special Purpose Vehicle — a legal entity created to ring-fence a specific project's assets and liabilities. |
| TCN | Transmission Company of Nigeria — federally owned operator of the high-voltage grid. |
| Wheeling | The transmission of electricity from a generator across a grid to a customer or distributor. |
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