The Federal Government of Nigeria, through the Rural Electrification Agency and several state governments, has signed renewable energy investment agreements worth $435 million with private and development partners. The signing took place during the Nigeria Renewable Energy Innovation Forum 2025 in Abuja, marking one of the country’s largest coordinated commitments to clean energy expansion.
Vice President Kashim Shettima, who officiated the event, said the agreements are central to Nigeria’s plan to achieve 277 gigawatts of installed power capacity by 2060 and position the country as a renewable energy manufacturing hub for Africa. He explained that Nigeria’s energy transition represents an investment opportunity exceeding $410 billion between now and 2060, with about $23 billion required in the near term to connect millions of households still living without reliable access to electricity.
Shettima said that the shift toward renewable energy demands more than financial investment. It requires innovation, local capacity, and long-term commitment to building sustainable value chains. He emphasised that the government’s industrial strategy aims to anchor Africa’s renewable energy supply chains within Nigeria through domestic production of solar panels, battery storage systems, and smart meters, supported by technology transfer and local skill development.
The vice president noted that the new investments are expected to create about 1,500 direct jobs across participating states and strengthen Nigeria’s clean energy manufacturing base. He highlighted the role of the Federal Ministry of Power and the Rural Electrification Agency in steering policies that promote decentralised, competitive, and inclusive electricity access, particularly in off-grid and underserved regions.
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At the forum, state governments entered into agreements with local and international renewable energy firms to develop solar, hybrid, and recycling projects aimed at increasing electricity generation capacity. These include partnerships that will add hundreds of megawatts to the national grid, establish recycling plants for renewable components, and expand the country’s manufacturing base for clean energy technologies.
Shettima reaffirmed President Bola Tinubu’s commitment to consolidating Nigeria’s energy transition policies through incentives for local manufacturing, streamlined regulatory processes, and enhanced collaboration among state governments, private investors, and development partners. He added that the success of Nigeria’s energy transition would not be measured by policies or projections, but by the country’s ability to turn plans into tangible outcomes that guarantee reliability, affordability, and sustainability for all citizens.
He also called on development partners and equipment manufacturers to localise production, strengthen supply chains, and invest in human capital to ensure that the benefits of renewable energy are widely shared.
Industry analysts say the agreements come at a defining moment for Nigeria’s power sector. Despite reforms aimed at improving grid efficiency, millions still lack access to electricity, particularly in rural and peri-urban communities. Expanding renewable energy infrastructure, they argue, could help reduce dependence on diesel generation and support inclusive economic growth.
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The Nigeria Renewable Energy Innovation Forum brings together government agencies, investors, and energy developers to align public and private strategies for the clean energy transition. Over the two-day event, participants are expected to refine a national framework to track the implementation of the newly signed agreements and ensure their long-term impact on Nigeria’s energy security and sustainability goals.
