TINUBU GOVT TARGETS $410BN INVESTMENT IN RENEWABLE ENERGY – SHETTIMA
By: Safiya Abdulrahim Dabban
Vice President Kashim Shettima says Nigeria’s renewable energy sector could attract over $410 billion in investments by 2060 under the Tinubu administration’s energy transition plan.
Speaking at the inaugural Nigerian Renewable Energy Innovation Forum in Abuja, Shettima revealed that $23 billion will be needed to expand electricity access for millions still living in energy poverty.
He said the goal is to build a power system that generates 277 gigawatts by 2060, powered by local innovation and private investment. The government, he added, is enhancing incentives, easing regulations, and collaborating with partners to reduce investment risks.
Shettima emphasized that Nigeria’s energy future must be locally driven, citing plans for solar panel assembly lines and battery recycling hubs across the country.
The Vice President announced over $400 million in new commitments for solar, smart meter, and battery projects — creating 1,500 jobs nationwide.
Minister of Power Adebayo Adelabu hailed the forum as a key milestone, while REA’s Abba Aliyu said it reflects Nigeria’s leadership in Africa’s green transition.
The event also saw MoUs signed between the Governors of Jigawa, Bayelsa, and Ogun States, private partners, and the Dutch government, with backing from the UN and other development partners.