Nigeria’s Minister of Power, Adebayo Adelabu, says the country has attracted close to $500 million in commitments from state governments and private investors to scale up local solar manufacturing capacity.
Speaking at the Nigeria Energy Conference in Lagos, Adelabu explained that the new agreements emerged from the Nigerian Renewable Energy Innovation Forum led by the Rural Electrification Agency (REA). He said the funds will support factories dedicated to producing solar panels, batteries and smart meters within the country.
According to Adelabu, the investments are expected to deliver almost 4 gigawatts of solar manufacturing capacity per year—equivalent to roughly 80% of Nigeria’s current national electricity generation output.
The minister noted that Nigeria has already begun exporting domestically produced solar panels to neighbouring Ghana, describing the development as a demonstration of the country’s growing role in Africa’s renewable energy market.
Adelabu also said the initiative will generate jobs, reduce foreign exchange pressure by cutting imports, and accelerate Nigeria’s clean energy deployment.
He emphasised that the administration is focusing on creating policies that enable private capital to play a larger role across the power sector, with particular attention to transmission infrastructure.
“Nigeria’s power sector is open and ready for investment,” he said, assuring stakeholders that government is committed to providing a stable and commercially attractive environment for energy investors.
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Source:Africa Publicity
