Urges forum participants to move from dialogues, MoUs to concrete actions
The Vice President Kassim Shettima yesterday called on renewable energy investors to take advantage of the enormous opportunities here in by investing in the country.
He said, “Nigeria’s energy transition presents an investment opportunity of $410 billion between now and 2060. Of this, more than $23 billion is required for expanding energy access, connecting millions of our citizens who still live in energy poverty.
“But beyond access lies the grander ambition: to deliver a power system capable of 277 gigawatts of total installed capacity by 2060, driven by renewables, storage, grid expansion, and clean technology infrastructure. These are not just figures; they are opportunities — opportunities for job creation, industrial expansion, private capital mobilization, and inclusive growth.
The VP spoke while declaring open the Nigeria Renewable Energy Innovation Forum, NREIF, in Abuja. He stated, “NREIF is the first of its kind in Nigeria – a global platform dedicated to renewable energy innovation, local manufacturing, and clean technology. It brings together over 1,500 stakeholders: global dignitaries, investors, Original Equipment Manufacturers, innovators, policymakers, and leading Nigerian States.
“Together, we converge on one shared mission: to unlock the opportunities of Nigeria’s energy transition and establish our country as the hub for renewable energy manufacturing in Africa.”
He commended the Federal Ministry of Power for its steadfast leadership in steering Nigeria’s energy transition agenda through clear and forward-looking policies that have laid the groundwork for a more decentralized, competitive, and inclusive electricity market. And praised the Rural Electrification Agency (REA) for its pivotal role in translating these policies into tangible impact — expanding distributed renewable energy access, extending the reach of the national grid, and strengthening the ecosystem that enables private sector participation.
“It is therefore fitting that the Ministry and the REA are convening this historic Forum to move the national conversation from access to industrialization, and from deployment to domestic manufacturing.
Shettima in the address assured the investors that “As we chart this path, let me assure you that the Federal Government remains resolutely committed to consolidating the policy foundations already in place. We are enhancing incentives for local manufacturing, streamlining regulatory frameworks, and deepening collaboration with State Governments, investors, and development partners to de-risk private capital and accelerate the growth of a self-sustaining renewable energy market.”
Calling on the private sector to join the government, he said, “To unlock the full potential of Nigeria’s energy transition, we need the private sector — our industrialists, innovators, and financiers — to take bold steps forward. We need our development partners and Original Equipment Manufacturers to localize technologies, strengthen value chains, and invest in skills and knowledge transfer. And we count on our State Governments to champion renewable industrial clusters and serve as engines of green growth across the federation.
He urged participants to ensure that deals, agreements and MoUs signed in the course of the forum are converted to real concrete actions. “These outcomes must not end in communiqués, but in factories, in jobs, in electrified schools, in thriving rural enterprises, and in resilient communities powered by clean energy.
Describing Nigeria’s journey to energy transition as existential, he said, “I see leaders who carry in their hands the keys to Africa’s energy future. Nigeria now stands at a crossroads: the world is racing toward net zero, Africa is rich with the minerals that power clean technologies, and Nigeria brings youth, ambition, and untapped renewable potential. Let us seize this moment. We will not stand on the sidelines — we will be architects of change. Nigeria is ready. Nigeria is committed to harnessing our resources, unlocking capital, and becoming the vibrant heartbeat of Africa’s renewable energy revolution.”
Reviewed by Clem Ezeolisah
on
October 14, 2025
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