The deals were struck in Abuja during the opening of the Nigerian Renewable Energy Innovation Forum (NREIF).
President Bola Tinubu, while declaring the forum open, pledged that “in the next three days, at least $400 million worth of contracts will be signed.” His comments underscored a bold pivot away from an unstable national grid toward distributed solar systems.
“We are determined to reverse solar panel importation into Nigeria,” Shettima said, pointing to the dominance of Chinese suppliers in Africa’s renewable markets. By building local capacity, he argued, Nigeria can reclaim control over its energy destiny.
From grid failures to solar freedom
At the event’s opening, $435 million in new renewable energy agreements were sealed under the Nigeria Solar Marketplace initiative. Projects span multiple states: in Ogun, for instance, Renew Power and Tranos will deploy 500 MW and 600 MW of solar capacity.
In Lagos, Auxano Solar plans to develop a 150 MW project, while Vene Photovoltaic Technologies will build a solar panel recycling plant with an annual output of 2,484 tons, in partnership with Greenlight Planet Sun King Nigeria and Suntisolar Energy Africa.
Akwa Ibom and Kano states will host 500 MW and 600 MW projects from Tricell Solar Solutions and IRS Green Energy. In Bayelsa, J Marine Logistics is leading deployment, and in Abuja’s Federal Capital Territory, PVG Solar plans a 500 MW plant, in collaboration with diplomatic missions and SNV.
From a modest baseline of 11 MW in 2015, Nigeria’s cumulative solar capacity reached 102 MW by the end of 2022, and stood at 144 MW in 2024, according to the International Renewable Energy Agency (IRENA). But the scale of ambition is rising: Nigeria currently imports most solar modules, even though the country has an installed solar PV assembly capacity of 131 MW and plans to scale to 1,531 MW.
Oando Clean Energy is developing a 1,200 MW solar assembly facility with the REA, with a first 600 MW production line slated for next year.
Nigeria’s broader power system remains strained. The country’s firm generation capacity is about 13,000 MW, yet the transmission grid can only handle 8,000 MW, and less than 4,000 MW of this reaches consumers reliably. Many businesses and premium customers are already “opting out” of the grid entirely, even the presidency itself.
Nigeria targets $410 billion energy transition opportunity
He projected the nation’s energy transition as an estimated $410 billion opportunity by 2060, and said $23 billion would be needed for expanded energy access.
REA Managing Director Aliyu Abba framed NREIF as the bridge between ambition and execution: “With over $3 billion worth of ongoing projects, our focus is ensuring that every dollar spent generates maximum domestic value.”
Adelabu also stressed that regulatory levers are being updated: “The Electricity Act 2023, tariff reforms, and new subsidy frameworks are reshaping Nigeria’s power sector,” he said.
International partners were in full attendance as German Ambassador Annett Günther reaffirmed her country’s support via existing energy programmes and called for a transition that is green, local, and inclusive.
The European Union pledged backing as well, noting that since 2008, it has invested over €200 million in Nigeria’s power sector. An additional €100 million has been invested since 2021 to boost 400 MW of renewable capacity by 2027, benefiting over 5 million people.
Seen through a pan-African lens, Nigeria’s leap toward a domestic solar manufacturing base signals a potential model for other nations wrestling with grid instability. If successful, it could anchor Lagos, Kano, Bayelsa, and others not just in sunshine, but in clean industrial jobs and independent power.
