Vice President Kashim Shettima has disclosed that Nigeria’s energy transition blueprint is set to unlock over $410 billion in investments by 2060.
He stated this in his address to the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025 held in Abuja.
Shettima said the administration is committed to leveraging Nigeria’s vast clean energy resources to drive industrial growth, inclusion, and sustainable development.
“President Tinubu’s administration’s long-term goal is to build a 277-gigawatt power system by 2060, powered by innovation, local manufacturing, and private capital,” he said.
According to the vice president, an estimated $23 billion will be required in the short term to expand energy access and connect millions of Nigerians still living in energy poverty.
He explained that the Federal Government is strengthening incentives for domestic production, simplifying regulatory processes, and deepening partnerships with state governments and international investors to accelerate the country’s transition to clean energy.
“To achieve this, the government is strengthening incentives for domestic production, simplifying regulations, and deepening partnerships with state governments and international investors,” he added.
Shettima noted that these reforms are designed to de-risk investment and accelerate the growth of a self-sustaining renewable energy market capable of creating jobs and diversifying the economy.
He further stated that discussions and partnerships facilitated through the NREIF have already attracted over $400 million in new investments into Nigeria’s renewable energy manufacturing value chain, covering solar panel production, smart meters, battery storage, and recycling facilities.
“Through engagement at the forum, over $400 million in new investments have already been mobilised into Nigeria’s renewable energy manufacturing value chain,” he said.
According to him, these projects are projected to create more than 1,500 direct jobs across multiple states, marking a significant milestone in Nigeria’s clean energy transition journey.
