Vice President Kashim Shettima has assured Nigerians that the economic hardship currently being experienced will soon give way to a new era of prosperity, as the country advances toward sustainable economic growth.
Speaking on Tuesday in Abuja at the Nigeria Renewable Energy Innovation Forum, Shettima said President Bola Ahmed Tinubu is deeply aware of the struggles Nigerians are facing and remains committed to alleviating their pain.
“The president’s heart goes out to the pains that Nigerians are experiencing, but be reassured that we have crossed the Rubicon and we are on a path to sustaining growth and blessings,” the vice president said.
The event, organised by the Rural Electrification Agency, was aimed at attracting investment into local production of renewable energy technologies. Shettima described the forum as a strategic platform to position Nigeria as Africa’s manufacturing hub for renewable energy.
He revealed that Nigeria’s energy transition presents a significant investment opportunity, projected at over $410 billion between now and 2060. “Of this, more than N23bn is required to expand energy access and connect the millions of Nigerians who still live in energy poverty. But beyond access lies our grander ambition, which is to deliver a power system capable of 277 gigawatts of total installed capacity by 2060,” he stated.
“This ambition demands more than investment, it demands innovation, local capacity, and commitment,” Shettima added.
Highlighting the theme of the forum, Implementing the Nigeria First Policy, Facilitating Local Content Development and Manufacturing in the Renewable Energy Ecosystem, the vice president said it reflects Nigeria’s commitment to a domestically driven industrial strategy. “Our commitment to a Nigeria-based industrial strategy calls on us to anchor the future of Africa’s renewable energy supply chains right here at home,” he said.
Shettima also disclosed that more than $400 million in new investment commitments have been mobilised into Nigeria’s renewable energy manufacturing value chain under the forum.
“This includes solar panels, smart meters, battery storage, and recycling facilities. These investments are projected to create over 1,500 direct jobs across multiple states and reflect growing global confidence in Nigeria’s clean energy industrialisation drive. I am convinced that each of us gathered here is determined to ensure that the outcomes of this forum do not end in communiques but are translated into factories, jobs, electrified schools, thriving rural enterprises, and resilient communities powered by clean energy. That is the true test of our resolve,” he said.
Also speaking at the event, Minister of Power, Adebayo Adelabu, described the upcoming NRIP 2025 as more than just another industry gathering, calling it a declaration of Nigeria’s readiness to lead the continent’s renewable energy transformation.
“This year’s theme, Implementing the Nigeria First Policy, speaks to something far deeper than manufacturing. It embodies a bold commitment to national pride, industrial competence, and long-term economic sustainability,” Adelabu said.
“In the power sector, the Nigeria First Policy reflects a determination to ensure that the next generation of clean energy technologies, from solar panels to battery energy storage systems, deployed across the country, proudly carry the label, Made in Nigeria.”
