Nigeria is set to unlock more than $410 billion in clean energy investments by 2060, as part of its long-term energy transition plan to position the country as Africa’s renewable energy powerhouse, according to Vice President Kashim Shettima.
Speaking at the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025 in Abuja, Shettima reaffirmed the Federal Government’s commitment to leveraging renewable resources to drive industrial growth, inclusivity, and sustainable development.
He noted that President Tinubu’s administration aims to build a 277-gigawatt power system by 2060, powered by innovation, local manufacturing, and private sector participation.
“Our goal is to develop a robust clean energy ecosystem that fuels industrial growth, creates jobs, and ensures energy access for all Nigerians,” Shettima said.
Expanding Access and Attracting Investments
The Vice President revealed that $23 billion will be required in the short term to expand energy access and connect millions of Nigerians still living without reliable power.
To achieve this, he explained, the government is enhancing incentives for local production, simplifying regulations, and deepening collaboration with state governments and international investors. These reforms are designed to de-risk investments and create a self-sustaining renewable energy market that boosts economic diversification.
$400 Million Already Mobilized into Clean Energy Manufacturing
Shettima announced that the NREIF has already attracted over $400 million in new investments into Nigeria’s renewable manufacturing value chain, covering solar panel assembly, smart meter production, battery storage, and recycling infrastructure.
“These projects will generate more than 1,500 direct jobs across various states,” he said, describing the achievement as a major milestone in Nigeria’s clean energy transition.
A Turning Point for Nigeria’s Green Future
The forum brought together key stakeholders, including the Minister of Power, Adebayo Adelabu, and the Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, who both praised the initiative as a critical step toward achieving Nigeria’s energy transition goals.
Several Memoranda of Understanding (MoUs) were signed between Nigerian states, the REA, and international partners, including the Dutch government, reflecting renewed global confidence in Nigeria’s renewable energy landscape.
“This marks a new chapter in Nigeria’s journey toward a secure, inclusive, and green energy future,” Shettima concluded.
What You Should Know
Earlier in August 2025, REA Managing Director Abba Aliyu identified solar energy as the most cost-effective and scalable solution for electrifying Nigeria’s rural and urban communities.
He also confirmed that the agency is expanding its portfolio to include wind, biomass, and hybrid renewable projects, following an MoU with the Nigerian Wind Energy Council to develop small-scale wind power infrastructure nationwide.
With sustained investment, strong partnerships, and targeted reforms, Nigeria’s clean energy transition is gaining momentum — setting the stage for a more resilient and sustainable power future.
