Vice President Kashim Shettima says Nigeria’s energy transition plan under President Bola Tinubu will unlock over $410 billion in renewable energy investments between 2025 and 2060.
Shettima made this known on Tuesday in Abuja while declaring open the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025.
He said the initiative would position Nigeria and Africa as key players in the global race towards net-zero emissions.
According to him, more than $23 billion will be required to expand energy access and connect millions still living in energy poverty.
“We are blessed with the minerals that power clean technologies, and Nigeria brings youth, ambition, and untapped renewable potential,” the Vice President said.
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He called on stakeholders to seize the moment and affirm Nigeria’s readiness to harness its resources and lead Africa’s renewable energy revolution.
“Beyond access lies our grander ambition, to deliver a power system capable of 277 gigawatts by 2060. This ambition demands investment, innovation, and local capacity,” he added.
Shettima revealed that over $400 million in new investment commitments had already been mobilised into Nigeria’s renewable energy manufacturing value chain.
He said the investments cover solar panels, smart meters, battery storage, and recycling facilities, creating over 1,500 direct jobs across multiple states.
“These investments reflect growing global confidence in Nigeria’s clean energy industrialisation drive,” he said.
The Vice President assured investors and development partners of the Tinubu administration’s commitment to strengthening policy frameworks that support a self-sustaining renewable market.
“We are enhancing incentives for local manufacturing, streamlining regulations, and deepening collaboration with State Governments and investors,” he noted.
He also urged the private sector and Original Equipment Manufacturers to localise technologies and invest in skills and knowledge transfer.
“We count on State Governments to champion renewable industrial clusters and drive green growth across the federation,” he added.
Minister of Power Adebayo Adelabu described the NREIF as a milestone in Nigeria’s energy transformation journey and a step towards expanding local solar production capacity.
He said the Integrated National Electricity Policy aims to strengthen the decentralisation and efficiency of the sector.
The United Nations Deputy Secretary-General, Amina Mohammed, represented by UN Resident Coordinator Mohammed Malick Fall, said the forum aligns with global ambitions for renewable energy development.
He pledged the UN’s support for Nigeria’s drive to power homes, schools, and communities sustainably.
Source: Channels TV
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