Investor Presentaiton

Developing the Power Sector - Implementation Update Expanding power sector infrastructure is one of the top priorities of the ERGP. The objective is to achieve 10GW of operational capacity by 2020 and to improve the energy mix through greater use of renewable energy. The Power Sector Recovery Programme (PSRP) details the policy actions, operational, governance and financial interventions to be implemented by the Government over the next 5 years to restore the financial viability of the power sector. The PRSP has the following objectives: Restore the sector's financial viability Improve power supply reliability to meet growing demand Strengthen the sector's institutional framework and increase transparency Implement clear policies that promote and encourage investor confidence in the sector Establish a contract-based electricity market (eligible customer regulation) Generation Improved from 4,000 MW (approx.) in 2015 to 7,000 MW (approx.) in 2018, although 5,000 MW is distributed • Plans underway to add up to 950 MW from Azura (455 MW), Kaduna (215 MW), Afam III (240 MW) and Kashimbilla (40 MW) while about 1,180 MW is projected for 2019 from Zungeru (700 MW) and Okpai II (480 MW) Transmission Improved from 5,000 MW to 7, 124 MW in 2018 (approx.) About 90 transmission projects in various stages of construction Distribution Improved from 2690 MW to 5,222 MW in 2018 (approx.) • As 40% owner, Government is developing an arrangement to support the DISCOS by investing in the procurement of equipment and installations to help distribute the stranded 2000 MW of production Eligible customer arrangement is being promoted to enable customers who consume 2MW or more to contract directly to take power from GENCO Government, acting through the Rural Electrification Agency, is linking small power entrepreneurs with markets like Ariaria in Aba, Sabon Gari in Kano, and Sura Market in Lagos 11 Reform Implementation and Key Initiatives

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