At the UN General Assembly in New York City on Tuesday, Vice President Kashim Shettima gave investors an overview of Nigeria’s 200-billion-dollar energy transition opportunity.
He emphasized the need for “partnerships” at the Business Council for International Understanding (BCIU) Roundtable in order to maximize the multi-faceted, multi-billion-dollar investment opportunities across the nation.
Nigeria offers a $200 billion energy transition opportunity, according to the statement from 210 trillion cubic feet of gas reserves and one of Africa’s highest solar irradiation levels.
The Vice President emphasized that off-grid solar and clean hydrogen pilot projects are de-risking investment in both traditional and renewable power assets, from gas-fired independent power plants to off-grid solar and clean hydrogen.
Shettima also emphasized that while Nigeria has a one-billion-dollar gap in transport, ports, and power infrastructure, the government is combining sovereign and private funding to finance metro lines, dry ports, and industrial corridors, laying the foundation for West African trade and generating long-term income for investors.
He emphasized that the country’s endorsement of the African Continental Free Trade Area’s (AFCFTA) 3. 4 trillion dollar market by Fitch and Moody’s implies that the nation is strategically located as the natural hub for the region’s (AFCFTA) 3. 4 trillion dollar market.
With backward-integration incentives and AfCFTA corridors opening a multi-billion dollar continental market, “Special Economic Zone clusters now house over five billion dollars in installed industrial capacity.”
He continued, “These reforms are turning Nigeria into Africa’s production floor and innovation lab.”
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In April 2025, Fitch Ratings upgraded Nigeria’s outlook from negative to stable, reaffirming the Tinubu administration’s commitment to radical policy changes.
Although Nigeria’s long-term foreign exchange rating was at the time at “B,” Fitch said the economic trend starting to take off now that it hasn’t.
The reforms have improved macroeconomic credibility, reduced distortions, and strengthened resilience to shocks, including tighter monetary policy, abolition of fuel subsidies, and ending the deficit monetisation.
According to the Vice President, Nigeria has access to 44 minerals worth more than $ 700 billion under a new beneficiation and security system.
Source: Channels TV
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