Abuja, Nigeria — The Federal Government of Nigeria is finalizing over $400 million in new renewable energy investment commitments, a move expected to accelerate local manufacturing and innovation across the nation’s clean energy value chain.
Vice President Kashim Shettima announced the development during the inaugural Nigerian Renewable Energy Innovation Forum 2025, held in Abuja. He said the agreements — expected to be signed within two days — will fund solar panel assembly plants, smart meter production lines, and battery storage and recycling facilities across multiple states.
“Through engagements facilitated under this forum, more than $400 million in new investment commitments have been mobilized into Nigeria’s renewable energy manufacturing value chain,” Shettima said.
“These include solar panels, smart meters, battery storage, and recycling facilities.”
The forum’s focus, themed “Implementing the Nigeria PACE Policy: Facilitating Local Content Development and Manufacturing in the Renewable Energy Ecosystem,” underscores the administration’s goal to strengthen local value chains and position Nigeria as the hub of renewable energy manufacturing in Africa.
Building Nigeria’s Renewable Energy Value Chain
Shettima explained that the initiative forms part of efforts to reverse the heavy reliance on imported solar components and to localize production in line with the “Nigeria First” industrial policy.
The new investment pipeline is expected to create more than 1,500 direct jobs, stimulate private-sector participation, and attract additional financing for decentralized energy systems.
He added that these projects demonstrate global investor confidence in Nigeria’s clean-energy transition and reinforce the government’s strategy to expand access to affordable, reliable, and sustainable power.
The approach mirrors continental trends covered in Africa’s Digital Infrastructure Boom, where localized production and technology partnerships are driving Africa’s broader industrial transformation.
A $410 Billion Opportunity Through 2060
Vice President Shettima highlighted that Nigeria’s energy transition presents an investment opportunity exceeding US$410 billion between now and 2060, with US$23 billion required in the short term to expand energy access for millions still living in energy poverty.
He reaffirmed that Nigeria aims to achieve 277 gigawatts of installed capacity by 2060, built on innovation, manufacturing, and regional integration.
This ambition aligns with findings in Top 10 Sectors to Invest in Africa 2025–2030, which lists renewable energy as a top-tier growth industry for African economies.
“Nigeria must not only participate in this revolution but lead it,” Shettima said.
“From solar panel assembly lines in Lagos to battery recycling hubs along our industrial corridors, this is our moment to industrialize through clean energy.”
Local Manufacturing and Policy Incentives
The Vice President reaffirmed President Bola Ahmed Tinubu’s commitment to consolidating Nigeria’s energy transition policies by:
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Enhancing incentives for renewable manufacturing and local content.
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Streamlining regulatory frameworks for project approvals and licensing.
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Strengthening collaboration with state governments, investors, and development partners.
He commended the Federal Ministry of Power and the Rural Electrification Agency (REA) for their leadership in advancing decentralized and inclusive energy policies that have brought electricity to rural communities through solar mini-grids and standalone systems.
The emphasis on public-private partnerships and industrial localization reflects Nigeria’s determination to turn renewable energy into a driver of economic resilience and export potential, similar to strategies discussed in Reducing Risk, Building Confidence: The Key to Unlocking Africa’s Infrastructure Boom.
Collaboration Across States and Sectors
Shettima called on state governments, investors, and development partners to deepen cooperation in renewable manufacturing, technology localization, and workforce development.
He stressed that Nigeria’s success depends on translating commitments into real-world outcomes — factories, jobs, and electrified schools — not just policy documents.
“We count on our state governments to champion renewable energy industrial processes and serve as engines of green growth across the federation,” he said.
“This forum must prove that it is here for action, not mere deliberations.”
Nigeria Positioned as Africa’s Green Energy Leader
Nigeria already possesses the minerals, market size, and manpower needed to lead Africa’s green-industrial revolution.
With solar radiation among the world’s highest and a young, tech-savvy population, the country is positioned to become the vibrant heartbeat of Africa’s renewable energy revolution.
The Vice President assured citizens that ongoing economic reforms will soon yield results, stabilizing the currency, boosting investor confidence, and fueling long-term industrial growth.
This forward-looking strategy — integrating manufacturing, technology, and policy innovation — complements regional trends analyzed in Turkey–Africa Investment 2025, where blended finance and local value creation are key to sustainable growth.
Conclusion: From Policy to Power
Nigeria’s renewable energy drive is entering a decisive phase.
The $400 million in new commitments signals growing international confidence and a firm political will to transform energy access into industrial opportunity.
If implemented effectively, these investments could set a precedent for Africa-wide renewable manufacturing, helping the continent move from import dependency to global competitiveness in clean-energy technology.
As Shettima noted, “Nigeria is ready to harness her resources, unlock her capital, and lead Africa’s green industrial revolution.”
