Nigeria requires significant investments to address its energy deficit, which affects millions of households and industries, according to Ronald Adams, Chairman of All On and Managing Director of Shell Nigeria Exploration and Production Company Ltd. Adams made this statement while addressing business leaders at the 2025 International Business Conference & Expo of the Lagos Chamber of Commerce and Industry.
The energy deficit in Nigeria is substantial, with over 80 million people lacking access to reliable electricity. This shortage has far-reaching consequences, including stifled productivity, limited access to quality healthcare and education, and stunted economic potential. However, Adams believes that with the right policies and investments, this deficit could translate into a $10-20 billion market opportunity, particularly in off-grid energy solutions such as mini-grids, solar home systems, and clean cooking technologies.
All On, an off-grid impact investment company established by Shell in 2016, has made significant strides in addressing Nigeria’s energy deficit. The company has achieved over 50 direct investments, committed over $40 million, and supported ventures that have brought clean energy to over 1.2 million Nigerians across 190 underserved communities. Adams emphasized the importance of strategic collaborations not only in the energy sector but also in areas such as agriculture, digital technology, manufacturing, infrastructure, and financial services.
To attract more investments, Adams commended efforts to launch platforms like Investopedia, a digital platform showcasing opportunities across Nigeria’s 36 states. He invited local and international investors to invest in Nigeria’s renewable energy market, highlighting the potential for a future that is inclusive, sustainable, and resilient. By seizing this opportunity, investors can help unlock the full potential of Nigeria’s renewable energy market and contribute to the country’s economic growth and development.
The Nigerian government has been working to improve the business environment and attract foreign investment. The launch of Investopedia is a step in this direction, providing a platform for investors to explore opportunities in the country. With the right investments and policies, Nigeria’s energy deficit can be addressed, and the country can move towards a more sustainable and equitable energy future. As Adams noted, this requires a collaborative effort from local and international investors, as well as the government, to unlock the full potential of Nigeria’s renewable energy market.
