Nigeria’s Vice President, Senator Kashim Shettima, has announced that Nigeria’s Energy Transition Plan is projected to attract over $410 billion in renewable energy investments between 2025 and 2060, as the country positions itself as a key player in the global shift to net-zero emissions.
Speaking at the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) in Abuja on Tuesday, Senator Shettima said the initiative was central to President Bola Tinubu’s economic strategy and Nigeria’s clean energy ambitions.
According to Kashim, “We are blessed with the minerals that power clean technologies.
“Nigeria brings youth, ambition, and untapped renewable potential to the table, ” he said.
The Vice President also stated that more than $23 billion would be needed to expand energy access to millions of Nigerians currently without reliable power.
He further outlined an ambitious target to deliver a 277-gigawatt power system by 2060, driven by investments, innovation, and local capacity building.
Already, more than $400 million in new investments has been mobilised into the renewable energy value chain, covering solar panel production, smart meters, battery storage, and recycling creating over 1,500 jobs across several states.
“These investments reflect growing global confidence in Nigeria’s clean energy industrialisation drive,” Shettima noted.
The Vice President assured investors that the Tinubu administration was committed to strengthening regulatory frameworks to foster a self-sustaining renewable energy market.
He said the government was deepening collaboration with state governments and the private sector
Shettima also called on Original Equipment Manufacturers (OEMs) and local entrepreneurs to invest in technology localisation, skills development, and green industrial clusters.
Also, the Minister of Power, Adebayo Adelabu, described the forum as a landmark moment in Nigeria’s clean energy journey.
He highlighted efforts to decentralise the power sector under the Integrated National Electricity Policy.
United Nations Deputy Secretary-General Amina Mohammed, represented by UN Resident Coordinator Mohammed Fall, welcomed the forum as a vital step toward sustainable energy goals.
He reaffirmed the UN’s commitment to supporting Nigeria’s transition.
During the event, the Governors of Jigawa, Bayelsa, and Ogun States signed Memoranda of Understanding with private sector players and the Dutch government, marking the beginning of multiple public-private partnerships in clean energy.
