The Nigerian government has announced that it must mobilise over $23 billion to expand electricity access nationwide, according to Vice President Kashim Shettima. The objective is to meet the needs of millions of citizens still living in energy poverty, under a plan extending to 2060.
An energy strategy aligned with long-term objectives
This statement was made during the launch of the 2025 Nigeria Renewable Energy Innovation Forum (NREIF), organised by the Rural Electrification Agency (REA). According to Shettima, Nigeria must aim for 277 gigawatts of installed capacity by 2060. This ambition falls within a broader roadmap requiring more than $410 billion in investments over the next 35 years.
The vice president emphasised that this energy transition demands more than financing. It requires local innovation, a clear regulatory framework and strengthened industrial capabilities. He affirmed that the government is working to consolidate the policy foundations of a self-sustaining renewable energy market.
Incentive measures and sector commitments
Among the measures announced are the optimisation of tax incentives for local manufacturing, regulatory harmonisation, and strengthened collaboration between state governments, investors and development partners.
Shettima specified that over $400 million in investment commitments had been recorded in the renewable energy value chain through the forum’s initiatives. These commitments are expected to fund the installation of facilities for manufacturing solar panels, smart meters, storage systems and recycling infrastructure, leading to more than 1,500 direct jobs.
A forum focused on industrial structuring
Minister of Power Adebayo Adelabu described the NREIF as a strategic platform to accelerate the country’s energy transformation. He highlighted the role of industrial partnerships in developing local solar production capacity.
He also mentioned the Integrated National Electricity Policy, designed to harmonise regulatory efforts and consolidate existing achievements in the electricity sector.
The REA Managing Director/Chief Executive Officer, Abba Abubakar Aliyu, stated that the forum aligns political priorities with research and innovation efforts. He said that Nigeria must strengthen its position in the global energy sector through a gradual industrialisation of the renewable segment.
