The Federal Government is finalizing $400 million in new renewable energy investments this week.
Vice President Kashim Shettima announced this during the Renewable Energy Innovation Forum 2025 in Abuja. He said the initiative aims to strengthen local manufacturing and expand Nigeria’s renewable energy value chain.
According to him, the new investments will fund solar panel assembly, smart meter production, and battery recycling plants in several states.
He explained that these projects will reduce heavy importation and promote the Nigeria First industrial policy.
“Over the next two days, we will sign new agreements and forge key partnerships,” Shettima stated. “Over $400 million has been mobilised to boost renewable manufacturing nationwide.”
He added that the projects would create over 1,500 direct jobs and inspire stronger investor confidence in Nigeria’s clean energy transition.
Furthermore, he said the forum would focus on implementation, not just policy discussions. Each idea, he stressed, must lead to jobs, factories, and electrified schools.
Shettima noted that Nigeria’s energy transition success depends on innovation, accessibility, and affordability, not only policy ambition.
Themed “Implementing the Nigeria PACE Policy,” the forum promotes local innovation and sustainable energy solutions.
He revealed that Nigeria’s energy transition could attract $410 billion by 2060, with $23 billion needed soon for energy access.
Additionally, the country targets 277 gigawatts of installed capacity by 2060 through innovation, investment, and local content.
“From solar assembly lines in Lagos to battery hubs nationwide, Nigeria must lead Africa’s clean revolution,” he said.
Shettima reaffirmed President Tinubu’s commitment to advancing clean energy through incentives, regulatory reforms, and strategic partnerships.
He commended the Federal Ministry of Power and Rural Electrification Agency for improving access to clean power in rural areas.
Moreover, he urged state governments, investors, and development partners to promote technology transfer and local production capacity.
“Nigeria has the manpower, minerals, and market strength to lead Africa’s renewable energy transformation,” Shettima affirmed.
He described Nigeria’s youth as the nation’s greatest asset and expressed confidence in their role in innovation.
Finally, Shettima reassured Nigerians that current economic pains will soon ease as reforms begin to yield results.
“Our economy is recovering fast,” he said. “A brighter future is already on the horizon.”
