The Federal Government of Nigeria, through the Rural Electrification Agency (REA) and various state governments, has signed renewable energy agreements worth $435 million with local and international partners to expand electricity access nationwide. The agreements were formalized at the Nigeria Renewable Energy Innovation Forum (NREIF 2025) in Abuja, as part of efforts to position Nigeria as Africa’s renewable energy manufacturing hub.
Vice President Kashim Shettima highlighted that Nigeria’s energy transition represents an investment opportunity of over $410 billion by 2060, with $23 billion needed to extend power access to millions still living in energy poverty. He emphasized the government’s ambition to achieve 277 gigawatts of total installed capacity by 2060, driven by innovation, local capacity building, and industrial participation.
Shettima announced that the forum had mobilized more than $400 million in new investment commitments for solar panels, smart meters, battery storage, and recycling facilities. States such as Ogun, Lagos, Akwa Ibom, Kano, Bayelsa, and the FCT signed partnerships with firms like Tranos, Renew Power, Auxano Solar, Levene Photovoltaic Technologies, Tricell Solar Solutions, IRS Green Energy, and PVG Solar Limited to deliver renewable power projects ranging from 150MW to 600MW.
The Vice President noted that these investments would create over 1,500 direct jobs, strengthen local manufacturing, and boost Nigeria’s clean energy industrialization drive. He reaffirmed President Bola Tinubu’s commitment to advancing energy transition policies, enhancing incentives for local production, and fostering collaboration between government, investors, and development partners.
Shettima commended the Federal Ministry of Power and REA for implementing inclusive and decentralized energy policies that are improving electricity access in underserved communities.