- Nigeria will attract $410 billion in clean energy investment by 2060 under its long-term transition plan.
- The initiative will position Nigeria as Africa’s hub for renewable energy innovation and sustainable growth.
The Federal Government has announced plans to attract $410 billion in clean energy investment by 2060. The goal signals Nigeria’s most substantial commitment to building a sustainable and inclusive energy future.
Vice President Kashim Shettima disclosed this on Tuesday, October 15, at the Nigerian Renewable Energy Innovation Forum (NREIF) 2025 in Abuja. He said the initiative is a key part of Nigeria’s Energy Transition Plan, designed to drive industrialisation and expand access to reliable power. The strategy also aims to strengthen Nigeria’s position as a leader in Africa’s renewable energy market.
According to Shettima, President Bola Ahmed Tinubu’s administration plans to build a 277-gigawatt power system by 2060. The plan will rely on innovation, local manufacturing, and strong private-sector participation. He stressed that the government is prioritising long-term sustainability over short-term solutions. This approach ensures that growth in the energy sector supports job creation and inclusive development.
Nigeria will need $23 billion in the short term to extend electricity access to millions without reliable power. Shettima said the government is simplifying regulations and boosting incentives for local production. It also strengthens partnerships with state governments and private investors to accelerate results.
The Vice President revealed that the NREIF has already attracted over $400 million in renewable energy investments through solar panel production, battery assembly, and recycling plants. He added that these projects will generate over 1,500 direct jobs across several states, marking a key milestone in Nigeria’s clean energy journey.
Minister of Power, Adebayo Adelabu, described the forum as a turning point in the nation’s renewable energy drive. Likewise, the Rural Electrification Agency’s (REA) Managing Director, Abba Aliyu, said the roadmap will bridge the access gap and support economic diversification.
In conclusion, Shettima urged stakeholders to remain committed to innovation and collaboration. He noted that Nigeria’s path to a net-zero future depends on strategic investment and consistent policy action. With a $410 billion clean energy target, Nigeria is investing not only in electricity but also in a future built on resilience, sustainability, and prosperity.