TUE OCT 14 2025-theGBJournal| Vice President, Kashim Shettima says Nigeria’s energy transition is targeting “an investment opportunity of over $410 billion dollars between now and 2060,” with over $23 billion needed “to expand energy access and connect the millions of Nigerians who still live in energy poverty.
The Vice President, revealed the figures on Tuesday in Abuja while declaring open the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025.
The Vice President urged participants at the Forum to reach agreements, forge partnership and consolidate a national roadmap that would unfold the over $400 million investment in Nigeria’s renewable energy manufacturing value chain into a reality.
He hinted at the Federal Ministry of Power’s readiness to develop policies that would lay the foundation “for a more decentralised, competitive, and inclusive electricity market.”
Earlier, Minister of Power, Chief Adebayo Adelabu, said the Nigerian Renewable Energy Innovation Forum (NREIF) marks a new chapter in Nigeria’s energy transformation pathway that highlights the role of innovative pathership in targeting significant amount of local solar energy production capacity.
Meanwhile, the Governors of Jigawa, Bayelsa and Ogun States, and the management of REA, on the sideline of the Forum, signed Memorandum of Understanding (MOUs) with various private sector development partners, including the Dutch government.
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