Africa faces an estimated $90 billion annual energy investment gap as countries across the continent intensify efforts to achieve their 2030 energy access and transition goals.

The Chairman of Schneider Electric, Jean Pascal Tricoire, disclosed that Africa would require nearly $200 billion in yearly energy investments to meet those targets, compared with current funding levels of about $110 billion.

Speaking on the continent’s energy outlook, Tricoire described electricity as the strategic backbone of economic growth in West Africa, noting that industrial expansion, digital infrastructure, healthcare systems and modern cities all depend on the availability, reliability, and efficiency of power supply.

Citing World Bank energy access data, he said, close to 600 million people across Africa still lack access to electricity.

He added that Nigeria alone accounts for more than 80 million people without electricity access, making it one of the world’s largest energy access deficits.

Ajibola Akindele, Country President, Schneider Electric, further noted that even in areas where electricity connections exist, millions of households and businesses continue to experience unstable and inadequate power supply.

“West Africa continues to experience some of the lowest electrification and reliability levels in the world, with millions still facing inconsistent or insufficient supply even when connections exist,” he said.

Akindele also highlighted the growing pressure on electricity systems arising from the rapid expansion of artificial intelligence, cloud computing and digital infrastructure.

He stated that global electricity demand from data centres rose by about 17 per cent in 2025, largely driven by AI-related workloads and increased cloud computing growth.

“In Nigeria, data centre capacity is already estimated at more than 130 megawatts, yet operators still rely heavily on alternative power sources because of persistent grid instability,” he said.

The Country President argued that improving electricity supply across the region could significantly accelerate economic integration and industrialisation under the African Continental Free Trade Area.

According to him, the AfCFTA has the potential to boost Africa’s Gross Domestic Product by more than $500 billion by 2043 if supported by adequate energy infrastructure.

He noted that Nigeria and several countries in the region are increasingly positioning themselves as manufacturing and production hubs rather than import-dependent economies, but warned that weak energy infrastructure remains a major constraint.

“Nigeria and its regional peers are increasingly positioning themselves as production hubs rather than import-dependent markets. Yet this ambition collides with operational reality,” he said.