The Federal Government has hinted that over $400 m in new renewable energy investment commitments will be formalised within the next two days to strengthen Nigeria’s renewable energy manufacturing value chain.
Vice President, Kashim Shettima, announced this on Tuesday at the inaugural Nigerian Renewable Energy Innovation Forum 2025 held in Abuja, saying the move is aimed at deepening local manufacturing and innovation in Nigeria’s renewable energy sector.
According to him, the investments, mobilised through engagements facilitated by the forum, will fund the establishment of solar panel assembly plants, smart meter production lines, and battery storage and recycling facilities across multiple states.
He said this is part of efforts to reverse the trend of solar panel importation in the last few days and strengthen local manufacturing in line with the Nigeria First policy of the current administration.
He explained, “Over the next two days, agreements will be signed, partnerships will be forged and a national roadmap consolidated. I am pleased to announce that through the engagements facilitated under this forum, more than $400m in new investment commitments have been mobilised into Nigeria’s renewable energy manufacturing value chain. These include solar panels, smart meters, battery storage and recycling facilities,” said Shettima.
