The Rural Electrification Agency (REA), in collaboration with various state governments, has formalized renewable energy partnerships valued at $435 million to enhance electricity distribution nationwide.
These agreements were finalized on Tuesday during the Nigeria Renewable Energy Innovation Forum (NREIF 2025) held in Abuja, as part of the federal government’s initiative to position Nigeria as a leading renewable energy manufacturing hub within Africa.
In his keynote speech, Vice President Kashim Shettima highlighted that Nigeria’s shift towards sustainable energy represents a lucrative investment opportunity exceeding $410 billion through 2060.
He emphasized that over $23 billion is essential to broaden energy access and connect millions of Nigerians still living without reliable electricity.
Beyond expanding access, Shettima outlined the government’s vision to develop a power infrastructure capable of reaching 277 gigawatts of installed capacity by 2060.
He stressed that Nigeria must not only engage in the renewable energy revolution but take a leadership role-from manufacturing solar panels in Lagos to establishing battery recycling centers along key industrial zones.
“Achieving this requires more than capital; it demands innovation, building local expertise, and unwavering dedication. This year’s forum theme is therefore both timely and critical. Our national industrial strategy aims to anchor Africa’s renewable energy supply chains firmly within Nigeria,” he stated.
Shettima praised the Federal Ministry of Power for its proactive policies fostering a decentralized, competitive, and inclusive electricity market, which are vital to steering the country’s energy transformation.
He also lauded the Rural Electrification Agency, under its Managing Director’s leadership, for effectively translating these policies into real-world benefits-lighting up homes, empowering small enterprises, and uplifting communities previously neglected.
The Vice President called on development partners and original equipment manufacturers to localize technology production, enhance supply chains, and invest in skill development and knowledge transfer.
He underscored that Nigeria’s energy transition success will be measured not by policy documents or forecasts but by the tangible delivery of affordable, reliable, and sustainable energy solutions for all citizens.
“Over the next two days, we will witness the signing of new agreements, the forging of strategic partnerships, and the consolidation of a national program. I am proud to announce that these engagements have already mobilized over $400 million in fresh investments into Nigeria’s renewable energy manufacturing sector, covering solar panels, smart meters, battery storage, and recycling facilities,” Shettima added.
Among the agreements, Ogun State partnered with Renew Power Limited and Tranos to develop 500MW and 600MW projects, respectively.
Lagos State entered into a deal with Auxano Solar to deliver 150MW and with Levene Photovoltaic Technologies Limited to establish a state-of-the-art recycling plant capable of processing 2,484 tonnes annually.
Akwa Ibom State signed agreements with Tricell Solar Solutions and IRS Green Energy for 500MW and 600MW projects, while Kano State secured similar deals with the same companies for equivalent capacities.
Bayelsa State, collaborating with Marine Logistics Limited, and the Federal Capital Territory, partnering with PVG Solar Limited, are each set to deliver 500MW of renewable energy capacity.
The Rural Electrification Agency also inked agreements with Suntisolar Energy Africa Solar Limited and Tsat Telecommunications Company Limited.
Reflecting on these partnerships, Shettima noted, “These investments are expected to generate over 1,500 direct jobs across several states, signaling increasing global confidence in Nigeria’s clean energy industrialization efforts.”
He reaffirmed President Tinubu’s dedication to strengthening energy transition policies by boosting incentives for local manufacturing, simplifying regulatory processes, and fostering deeper collaboration among state governments, investors, and development partners.
Shettima commended the Federal Ministry of Power and the Rural Electrification Agency for their role in promoting decentralized, inclusive, and competitive energy policies that have successfully extended electricity access to underserved regions.
At the forum, REA Managing Director Engr. Abba Aliyu remarked that the energy transition is gaining momentum worldwide, propelled by advancements in solar technology, battery storage, and digital energy systems.
He pointed out that countries globally are positioning their economies to capitalize on the clean energy revolution.
For instance, he cited the United States’ Inflation Reduction Act, which has spurred over $1 trillion in private clean energy investments and created more than 400,000 jobs.
In Europe, the Green Deal is channeling at least one trillion euros into sustainable projects, with over 150 billion euros dedicated to net-zero manufacturing initiatives.
China’s clean energy investments reached approximately $940 billion last year, adding over 350 gigawatts of new wind and solar capacity.
Aliyu emphasized:
“Africa cannot afford to lag behind. Our continent boasts nearly 60 percent of the world’s prime solar resources but attracts less than 3 percent of global renewable energy investments.
The challenge before us is to transform this vast natural advantage into a competitive edge by developing industries, fostering innovation, and creating local value that secures Nigeria’s role in the global clean energy economy.
With a population expected to surpass 250 million by 2030, increasing urbanization, industrial growth, and expanding digital infrastructure-from data centers to electric transportation-demand sustainable and dependable energy solutions.”
