Energy is considered as one of the most important resources of any country. It is a well-known fact that high rate of industrial growth of any country is a function of the amount of energy available in that country and the extent to which this energy is utilized. Nigeria is an energy- resource rich country blessed with fossil resources such as crude oil, natural gas, coal and renewable energy Resources like solar, wind and biogas. In Nigeria, the availability of a reliable power supply is part of the enabling environment for industrialization and therefore needs to be addressed in national policy. The utilization of renewable energy sources in Nigeria remains quite limited. Although use of solid biomass such as firewood, is prevalent and constitutes a major energy source for most rural dwellers in Nigeria; unfortunately, its continuous usage lead to deforestation. Nigeria’s usage of hydropower, geothermal and solar energy is still low. Nigeria has good radiation sites that can boost the development of solar energy; yet research efforts and government attention in that direction have yielded little results. The seasonal nature of Nigeria’s rainfall limits hydropower usage from increasing in importance.