Abuja – The Federal Government is set to secure over $400 million in new investment deals aimed at expanding Nigeria’s renewable energy manufacturing capacity.
Vice President Kashim Shettima disclosed this during the Nigerian Renewable Energy Innovation Forum 2025 held in Abuja, noting that the agreements will be finalised within the next two days.
According to him, the investments will support the establishment of solar panel assembly plants, smart meter production lines, and battery storage and recycling facilities across several states.
Shettima said the initiative aligns with President Bola Tinubu’s “Nigeria First” policy, which seeks to reduce dependence on imported solar components and encourage local production.
He added that the move would create over 1,500 direct jobs while strengthening Nigeria’s clean-energy value chain.
The Vice President further revealed that Nigeria’s energy transition presents an estimated $410 billion investment opportunity by 2060, with about $23 billion required in the near term to improve energy access and bridge energy poverty.
He reiterated that the government’s long-term goal is to achieve 277 gigawatts of installed power capacity by 2060, driven by innovation, investment, and local content development.
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