…Unveils $400m new commitments into renewable manufacturing value chain
Mkpoikana Udoma
Port Harcourt — Vice President Kashim Shettima has unveiled Nigeria’s bold clean energy ambition, projecting an investment opportunity worth over $410 billion between now and 2060 as the country positions itself as the heartbeat of Africa’s renewable energy revolution.
Speaking at the inaugural Nigerian Renewable Energy Innovation Forum, NREIF 2025 , Shettima said the Tinubu administration’s energy transition strategy is designed to not only close Nigeria’s energy access gap but also transform the nation into a manufacturing hub for clean technologies.
“We have too much at stake. We are blessed with the minerals that power clean technologies, and Nigeria brings to the table youth, ambition, and untapped renewable potential,” Shettima declared.
“Let us seize this moment and affirm that Nigeria is ready to harness her resources, unlock her capital, and become the vibrant heartbeat of Africa’s renewable energy revolution.”
The Vice President noted that over $23 billion would be required to expand energy access and connect millions of Nigerians who still live in energy poverty.
“But beyond access lies our grander ambition,” he said. “We want to deliver a power system capable of 277 gigawatts of total installed capacity by 2060. This ambition demands more than investment; it demands innovation, local capacity, and commitment.”
Shettima assured that President Tinubu’s administration is working to consolidate policy foundations that will make the renewable energy market self-sustaining and investor-friendly.
“We are enhancing incentives for local manufacturing, streamlining regulatory frameworks, and deepening collaboration with State Governments, investors, and development partners,” he stated. “Our goal is to de-risk private capital and accelerate the emergence of a self-sustaining renewable energy market.”
In a significant announcement, Shettima revealed that more than $400 million in new investment commitments have been mobilised into Nigeria’s renewable energy manufacturing value chain through engagements facilitated under the forum.
“These include solar panels, smart meters, battery storage, and recycling facilities,” the Vice President said. “These investments are projected to create over 1,500 direct jobs across multiple states and reflect growing global confidence in Nigeria’s clean energy industrialisation drive.”
Highlighting the administration’s “Nigeria First” strategy, Shettima stressed the need for renewable energy supply chains in Africa to be rooted in local capacity.
“From solar panel assembly lines in Lagos to battery recycling hubs along our industrial corridors, Nigeria must not only participate in this revolution but lead it,” he said.
He disclosed that the Ministry of Power is developing policies that will establish a more decentralised, competitive, and inclusive electricity market to enhance innovation and private participation.
The Vice President emphasised that the success of Nigeria’s energy transition relies on strong private sector involvement and collaboration with development partners.
“We count on our State Governments to champion renewable industrial clusters and serve as engines of green growth across the federation,” he added.
He urged stakeholders at the NREIF to forge partnerships and consolidate a national roadmap that would turn investment commitments into tangible results.
In his remarks, the Minister of Power, Chief Adebayo Adelabu, said the NREIF marks a “new chapter” in Nigeria’s energy transformation journey. He explained that the Federal Government’s multipronged approach aims to address structural bottlenecks and unlock private capital across the value chain.
Adelabu described the Integrated National Electricity Policy as a comprehensive framework to deepen decentralisation and strengthen ongoing reforms in the sector.
Also speaking, the Managing Director of the Rural Electrification Agency, REA, Mallam Abba Aliyu, said the NREIF connects policy and vision with research and innovation to accelerate Nigeria’s green energy ambitions.
“Africa cannot be left behind in the global energy transition conversation. This forum is Nigeria’s bold and energetic step toward a sustainable green energy ecosystem,” Aliyu stated.
Similarly, UN Deputy Secretary-General Amina Mohammed, represented by Mohammed M. Malick Fall, the UN Resident and Humanitarian Coordinator in Nigeria, pledged the UN’s support to Nigeria’s energy transition journey.
“This gathering embodies the global ambition for renewable energy and provides direction for Nigeria to harness its abundant natural capacity and lead the continent as the engine of renewable energy solutions,” he said.
The Dutch Ambassador to Nigeria, Bengt Van Loosdrecht, also reaffirmed the Netherlands’ commitment as a reliable partner, describing the forum as a “milestone” in bilateral cooperation on clean energy.
In a symbolic highlight of the event, the Governors of Jigawa, Bayelsa, and Ogun States signed several multi-million-dollar Memoranda of Understanding, MoUs, with private development partners, including the Dutch Government, in the presence of the Vice President.
The agreements, coordinated by the Rural Electrification Agency, are expected to spur investment in solar manufacturing, energy access projects, and renewable infrastructure across the federation.
With Nigeria targeting 277GW by 2060 and attracting hundreds of millions in clean energy investments, the 2025 NREIF signals a defining moment in the country’s journey toward energy security, sustainability, and industrial transformation.
