Abuja, Nigeria - October 14, 2025 Nigeria unlocks $410bn investment in renewable energy - Shettima Vice-President Kashim Shettima, says Nigeria’s energy transition journey under President Bola Tinubu's administration is unlocking an investment opportunity of about 410 billion dollars between now and 2060. Shettima stated this in Abuja at the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025. According to the Vice-President, the investment will position Nigeria as the heartbeat of Africa’s renewable energy revolution. Shettima said that over 23 billion dollars will be needed to expand energy access and connect the millions of Nigerians who still live in energy poverty. The Vice-President noted that as the world sails fast towards net zero, Nigeria and Africa must not be left behind. " We have too much at stake. We are blessed with the minerals that power clean technologies, and Nigeria brings to the table youth, ambition, and untapped renewable potential. " Let us seize this moment. Let us affirm that Nigeria is ready, ready to harness her resources, unlock her capital, and become the vibrant heartbeat of Africa’s renewable energy revolution. " Nigeria’s energy transition is targeting an investment opportunity of about 410 billion dollars between now and 2060, with over 23 billion dollars needed "to expand energy access and connect the millions of Nigerians who still live in energy poverty. "But beyond access lies our grander ambition, which is to deliver a power system capable of 277 gigawatts of total installed capacity by 2060. " This ambition demands more than investment, it demands innovation, local capacity, and commitment," he added He assured investors, development partners and other stakeholders at the forum of President Tinubu's commitment to consolidating policy foundations that would lead to a renewable energy market that is self-sustaining. "We are enhancing incentives for local manufacturing, streamlining regulatory frameworks, and deepening collaboration with State Governments, investors, and development partners. " This is with a view to de-risk private capital and accelerate the emergence of a self-sustaining renewable energy market. " Nigeria first' industrial strategy demands that the future of Africa’s renewable energy supply chains be anchored indigenously. " From solar panel assembly lines in Lagos to battery recycling hubs along our industrial corridors, Nigeria must not only participate in this revolution but lead it." Shettima hinted of the Federal Ministry of Power's readiness to develop policies that would lay the foundation "for a more decentralised, competitive, and inclusive electricity market." The Vice-President, however, noted that efforts to prioritise energy transition cannot succeed without the private sector. He called on development partners and Original Equipment Manufacturers "to localise technologies, strengthen value chains, and invest in skills and knowledge transfer. "We count on our State Governments to champion renewable industrial clusters and serve as engines of green growth across the federation," he added. Shettima urged participants at the forum to reach agreements, forge partnership and consolidate a national roadmap that would unfold the over 400 million dollars investment in Nigeria’s renewable energy manufacturing value chain into a reality. According to him, these investments are projected to create over 1,500 direct jobs across multiple states and reflect growing global confidence in Nigeria’s clean energy industrialisation drive. The Minister of Power, Adebayo Adelabu, said that the forum marks a new chapter in Nigeria's energy transformation pathway that highlighted the role of innovative pathership in targeting significant amount of local solar energy production capacity. Adelabu said that the Federal Government's multipronged approach was aimed at addressing Nigeria's structural challenges and unlocking private capital, all in the bid to transform the entire energy sector value chain. He described the Integrated National Electricity policy as a comprehensive sector-wide policy framework that was aimed at strengthening gains recorded in the sector, including the decentralisation of the value chain. The Managing Director, Rural Electrification Agency, Malam Abba Aliyu, explained that the forum connects policy and vision with research efforts as well as accelerate Nigeria's aspirations to developing a sustainable green energy ecosystem. Aliyu emhpasised the point that Africa cannot be left behind in the global energy transition conversation. He noted that the forum was Nigeria's bold and energetic step towards the actualisation of the country's goals in global energy transition. The UN Deputy Secretary General, Ms. Amina Muhammed, said that the gathering of stakeholders embodied the global ambition in the renewable energy sector. She also said that the forum provided a direction for Nigeria to harness its abundant natural renewable energy capacity and lead the continent as the engine of renewable energy solution. Represented by the United Nations Resident/ Humanitarian Coordinator in Nigeria, Mohammed Fall, Muhammed pledged the UN's commitment to collaborate with Nigeria to build a vibrant local energy sector. " This is with a view to fostering the aspiration of powering homes, schools and communities," she said.