Nigeria’s Minister of Power, Adebayo Adelabu, said the Federal Government, working with state governors and private investors, has secured about $500 million to build solar manufacturing plants across the country.
He added that Nigeria has started exporting locally produced solar panels to Ghana, marking an important step in the nation’s renewable energy efforts.
Adelabu explained that after the Nigerian Renewable Energy Innovation Forum organised by the Rural Electrification Agency, the government reached investment agreements worth nearly $500 million with both state leaders and private investors.
He said the plan will add close to 4 gigawatts of solar manufacturing capacity each year, which is almost 80 percent of the country’s current total power generation.
Adelabu noted that the new deals will boost the local production of solar panels, batteries, and meters, cutting dependence on imports and positioning Nigeria as a strong player in the regional energy market.
He said companies that produce these materials locally will receive support and deposits to encourage large-scale renewable energy production. According to him, this will help Nigeria meet its clean energy goals and serve as a key power hub for the region.
Adelabu pointed out that Nigeria recently began exporting solar panels made in the country to Ghana and plans to expand this effort. He said Nigeria aims to become the central hub for renewable energy production in West Africa and eventually across the continent.
He added that the move will bring wide economic benefits, including job creation, foreign exchange earnings, and faster growth of solar infrastructure.
The minister also said training and empowering young Nigerians in renewable energy technologies will be essential to maintaining progress in the sector.
Adelabu assured investors that the government is creating a supportive environment for private sector involvement in every part of the power value chain, especially in transmission.
He emphasised that the power sector is open for business and that the government is committed to making the environment attractive for investors. He said investors can expect to recover their capital and profits, expressing confidence that they will be proud to invest in Nigeria’s power industry.
source: apanews.net
African Energy Council