Nigeria aims to unlock more than $410 billion in renewable‑energy investments between 2025 and 2060, Vice President Kashim Shettima announced. The target is a cornerstone of President Bola Tinubu’s energy‑transition plan, which seeks to position Nigeria—and Africa—at the forefront of the global shift toward net‑zero emissions.
Speaking at the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025 in Abuja, Shettima stressed that the initiative will require substantial financing, with over $23 billion needed to expand energy access and connect millions of people still living in energy poverty. He highlighted Nigeria’s abundant minerals that power clean technologies, as well as the country’s youthful ambition and untapped renewable potential, making it an attractive destination for investors. The vice president urged stakeholders to seize the opportunity and affirmed Nigeria’s readiness to harness its resources and lead Africa’s renewable‑energy revolution.
Shettima announced that more than $400 million in new investment commitments have already been mobilised into Nigeria’s renewable‑energy manufacturing value chain, covering solar panels, smart meters, battery storage and recycling facilities. These investments are expected to create over 1,500 direct jobs across multiple states.
The Tinubu administration has pledged to strengthen policy frameworks that support a self‑sustaining renewable market. Measures include enhancing incentives for local manufacturing, streamlining regulations, and deepening collaboration with state governments and investors. Shettima called on the private sector and original equipment manufacturers to localise technologies and invest in skills and knowledge transfer.
Minister of Power Adebayo Adelabu described the NREIF as a milestone in Nigeria’s energy‑transformation journey, while United Nations Deputy Secretary‑General Amina Mohammed pledged UN support for Nigeria’s drive to power homes, schools and communities sustainably. The event also featured the signing of several memoranda of understanding between state governments, the Rural Electrification Agency and private‑sector partners, including the Dutch government.
Nigeria’s renewable‑energy ambitions are significant, with plans to deliver a power system capable of 277 gigawatts by 2060. Achieving this goal will require sustained investment, innovation and local capacity building. As the country advances its energy‑transition plan, it is poised to make a profound impact on the global renewable‑energy landscape and contribute to a more sustainable future for Africa and the world.
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