- The Federal Government, state governors, and investors have secured nearly $500 million to establish solar manufacturing plants.
- Minister Adebayo Adelabu announced that Nigeria has begun exporting locally made solar panels to Ghana, positioning the country as a regional hub for renewable energy.
The Minister of Power, Adebayo Adelabu, has announced that the Federal Government, in collaboration with state governors and private investors, has secured nearly $500 million to establish solar manufacturing plants nationwide.
Speaking at the Nigeria Energy Conference in Lagos, Adelabu said the government had already begun exporting locally manufactured solar panels to Ghana, a development he described as a significant milestone in Nigeria’s clean energy transition.
He explained that the agreements, finalised during the Nigerian Renewable Energy Innovation Forum organised by the Rural Electrification Agency (REA), would add almost 4 gigawatts of solar manufacturing capacity annually, about 80 per cent of Nigeria’s current total power generation.
“At the recently concluded Renewable Energy Innovation Forum, we activated agreements worth nearly $500 million with state governors and investors,” Adelabu said. “This will deliver around 4 gigawatts of solar manufacturing capacity every year, nearly 80 per cent of our national generation capacity.”
Furthermore, he said the initiative would drive local production of solar panels, batteries, and meters, reduce import dependence, and position Nigeria as a regional hub for renewable energy technologies.
“With this scale of production coming online, Nigeria can meet its renewable energy targets and expand exports. We already started last month when we exported Nigerian-made solar panels to Ghana,” the minister said. “We intend to build Nigeria into the regional energy hub, not just for West Africa, but for the entire African market.”
Adelabu added that the expansion of solar manufacturing would create jobs, boost foreign exchange earnings, and accelerate the deployment of renewable energy systems nationwide. He also emphasised the government’s commitment to training young Nigerians in solar and battery technologies to sustain the sector’s growth.
He assured investors of a stable policy and business environment. “Nigeria’s power sector is open for business like never before,” Adelabu said. “The government is committed to creating an investor-friendly atmosphere. In this sector, your investment remains safe, with guaranteed returns and long-term opportunities.”