The Federal Government has hinted that over $400 million 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 at the inaugural Nigerian Renewable Energy Innovation Forum 2025 in Abuja.

He explained that 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 added that the project is expected to create more than 1,500 direct jobs and demonstrate growing global confidence in Nigeria’s clean energy industrialization drive.