Nigeria, March 25 -- As another election cycle approaches, Nigerians can predict one thing with uncanny accuracy: promises to "fix electricity" will dominate campaign speeches. It has become a ritual. Politicians vow to stabilize the grid, complete abandoned projects, and ensure that no home remains in darkness. Yet, after more than a century of electricity generation and decades of policy reforms, the reality on the ground tells a harsher story: Nigeria's power problem is no longer just technical; it is deeply political.

Nigeria's electricity journey began in 1896 with modest generating sets in Lagos. Over time, the system expanded, with early private initiatives like the Nigerian Electricity Supply Corporation demonstrating that power...