- Renewable energy tax relief could attract investment and accelerate Nigeria’s industrial growth.
- Revenues from gas and solid minerals can finance clean energy projects and net-zero targets.
Renewable energy tax relief has been described as vital for Nigeria’s energy future. Ambassador Chinedu Ogwus, Regional Director for Africa at the Society of Petroleum Engineers International, stressed this point in Abuja, calling for a five-year tax break to accelerate renewable investment and long-term industrial growth.
The announcement came during the 2025 Niger Delta Oil, Gas Investment and Security Summit. The event, hosted by Cross River State governor Prince Bassey Otu and deputy governor Peter Agbe Odey, brought together leading figures. Government officials, senators, ministers, investors, and industry experts explored ways to secure Nigeria’s energy future through fiscal reform.
During his keynote address, titled “The Global Energy Transition and Nigeria’s Energy Security,” Ogwus emphasised Nigeria’s potential to dominate Africa’s renewable market. He argued that, with proper incentives, domestic industries could thrive. For example, solar panel and battery manufacturing would strengthen industrial capacity and generate thousands of jobs.
Furthermore, he highlighted the Nigerian Liquefied Natural Gas (NLNG) project as proof that incentives work. Early tax relief and supportive policies attracted global investors and sped up development. According to him, renewable energy tax relief could create similar momentum in renewables, boosting investor confidence and unlocking significant capital.
In addition, Ogwus stressed the role of natural gas as a transitional fuel. He urged the government to reinvest gas revenues into renewable projects. At the same time, he noted that developing solid minerals could diversify revenue streams. Consequently, these efforts could finance Nigeria’s ambitious goal of reaching net-zero emissions by 2060.
Finally, he underlined that reforms go beyond economics. They also improve humanitarian outcomes, reduce poverty, and promote sustainable nation-building. With the right framework, Nigeria could achieve energy independence while leading Africa’s transition to clean energy.