Nigeria showcases 200 billion dollar energy transition opportunity to investors

Nigeria’s Vice President, Kashim Shettima, presented the country’s $200 billion energy‑transition opportunity to investors at the 80th session of the United Nations General Assembly in New York. Speaking at a roundtable hosted by the Business Council for International Understanding, he stressed the importance of partnerships to maximise investment prospects in Nigeria.

Shettima highlighted Nigeria’s strategic position as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market, noting the country’s improved sovereign ratings from Fitch and Moody’s. He pointed out that Nigeria is West Africa’s largest economy and Africa’s biggest consumer market, with a population of 236 million projected to reach 320 million by 2040.

The Vice President drew attention to a series of multi‑billion‑dollar economic reforms, including the unification of exchange rates, the removal of fuel subsidies, and the modernisation of tax and customs regimes. These measures have accelerated GDP growth, strengthened external reserves and moderated inflation.

Shettima also showcased incentives for investors: a simpler, more predictable tax regime, duty‑free imports and rent concessions in Special Economic Zones. He underscored Nigeria’s energy potential, citing 210 trillion cubic feet of gas reserves and high solar irradiation levels that underpin the $200 billion energy‑transition opportunity.

In addition, the Vice President highlighted Nigeria’s burgeoning digital hub, which has attracted over $2 billion in venture funding and is training 3 million new tech talents. The country’s creative economy is expanding as well, projected to be worth $100 billion by 2030.

Shettima concluded by stating that Nigeria is transforming into Africa’s production floor and innovation lab, with more than $50 billion in investment interest and announcements across key sectors. The government’s reforms have positioned Nigeria as an attractive destination for investors, focusing on reducing risk, accelerating returns and creating a competitive business environment. As the nation continues its economic reset, it is poised to become a major player in the global economy, offering significant opportunities for investors and partners.