The International Energy Agency (IEA)’s Electricity Market Report July 2021 and What it Means for Nigeria

The IEA released its second Electricity Market Report (the “Report”) in month of July, 2021, as a sequel to its first report published in December 2020, in the midst of the Covid-19 pandemic. This second edition was published at a time when a lot of countries are already easing the restrictions occasioned by the Covid-19 pandemic. The Report notes that ‘despite record additions of renewable generation capacity, fossil fuel-based generation and associated emissions are rising along with electricity demand’.