Vice President Kashim Shettima has assured Nigerians that the economic hardship will soon abate as the nation is entering a new era of economic growth.
Speaking at the Nigeria Renewable Energy Innovation Forum (NREIF) in Abuja on Tuesday, Shettima emphasized that President Bola Tinubu is empathetic to the difficulties being experienced by Nigerians.
“The president understands the hardships that Nigerians are enduring, but rest assured, we have crossed a significant threshold and are on a path towards sustained growth and prosperity,” the vice president said.
The event was organized by the Rural Electrification Agency (REA) to attract investments in the local production of renewable energy products.
The vice president noted that the forum aims to position Nigeria as a center for renewable energy manufacturing in Africa, highlighting that the country’s energy transition presents an investment opportunity exceeding $410 billion from now until 2060.
“Of this amount, over N23 billion is necessary to enhance energy access and connect the millions of Nigerians still living without electricity.
“However, our broader goal is to establish a power system with a total installed capacity of 277 gigawatts by 2060.
“Achieving this vision requires not just investment, but also innovation, local capability, and dedication.
“That’s why the theme of this year’s forum, implementing the Nigeria first policy, facilitating local content development and manufacturing in the renewable energy ecosystem, is not only timely but essential.
“Our commitment to a Nigeria-centered industrial strategy compels us to anchor the future of Africa’s renewable energy supply chains right here at home,” Shettima stated.
He further stated that the forum has successfully mobilized over $400 million in new investment commitments into Nigeria’s renewable energy manufacturing sector.
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“This includes investments in solar panels, smart meters, battery storage, and recycling facilities.
“These initiatives are expected to create more than 1,500 direct jobs across various states and demonstrate the increasing global confidence in Nigeria’s clean energy industrialization efforts.
“I am confident that everyone present here is committed to ensuring that the results of this forum translate into factories, jobs, electrified schools, flourishing rural enterprises, and resilient communities powered by clean energy. That will be the true measure of our determination,” he added.
Meanwhile, the Minister of Power, Adebayo Adelabu, stated that the NRIP 2025 is not merely another event but a declaration that Nigeria is poised to lead Africa’s renewable energy transformation.
He said the theme signifies something much deeper than just manufacturing, but represents a strong commitment to national pride, industrial capability, and long-term economic sustainability.
