The Federal Government projects over $410 billion in clean energy investments by 2060 under Nigeria’s energy transition plan, Vice President Kashim Shettima announced on Monday.
Speaking at the Nigerian Renewable Energy Innovation Forum (NREIF) 2025 in Abuja, Shettima said the initiative aims to make Nigeria Africa’s renewable energy hub while driving industrial growth and inclusion.
He noted that President Bola Tinubu’s administration seeks to build a 277-gigawatt power system by 2060, powered by innovation, local manufacturing, and private capital.
According to the Vice President, about $23 billion will be required in the short term to expand access and connect millions of Nigerians still living without reliable electricity.
“The government is strengthening incentives for domestic production, simplifying regulations, and deepening partnerships with state governments and international investors,” Shettima said.
He disclosed that the NREIF has already attracted over $400 million in new investments across the renewable energy manufacturing value chain, including solar panel production, battery storage, and recycling facilities.
“These projects are expected to create more than 1,500 direct jobs across multiple states, marking a milestone in our clean energy transition,” he added.
Minister of Power, Adebayo Adelabu, and Rural Electrification Agency (REA) Managing Director, Abba Aliyu, described the forum as a turning point in achieving national renewable energy targets.
The event also featured the signing of multi-million-dollar MoUs between Nigerian states, the REA, and foreign partners, including the Dutch government, reaffirming global confidence in Nigeria’s green economy.
