Nigeria’s government and the Rural Electrification Agency (REA) have signed renewable energy agreements worth $435mn as part of efforts to establish the country as a hub for green energy and manufacturing, according to Business Day.

The deals, signed at the Nigeria Renewable Energy Innovation Forum (NREIF 2025) in Abuja on October 14, aim to aid Nigeria in establishing a power system capable of 277 gigawatts (GW) of total installed capacity by 2060 under the federal Energy Transition Plan.

This included Lagos State signing an agreement with Auxano Solar to deliver 150MW, Ogun State signing a deal with Renew Power Ltd. and Tranos to deliver 500MW and 600MW, respectively, and Akwa Ibom and Kano State signing an agreement with Tricell Solar Solutions and IRS Green Energy to deliver 500MW and 600MW, respectively.

REA Managing Director Ahmad Salihijo said the projects represent a major milestone in localising Nigeria’s renewable-energy value chain and that implementation is expected to begin in phases from 2026, following feasibility and financial-closure reviews.

Regarding the deals, Vice President Kashim Shettima said Nigeria’s energy transition presented an investment opportunity of more than $410bn between now and 2060, with more than $23bn alone needed to expand energy access and connect millions of Nigerians who currently still lack access to clean energy and live in energy poverty.

Nigeria should not just participate in the energy transition, but lead it, he said.

“This demands more than investment; it demands innovation, local capacity, and commitment. That is why the theme of this year’s forum is not only timely but indeed essential. Our commitment to a Nigeria-based industrial strategy calls on us to anchor the future of Africa’s renewable energy supply chains right here at home,” Shettima said.

He said that in the coming days, agreements will be signed, partnerships will be forged, and a national programme consolidated.

“I am pleased to announce that through the engagements facilitated under this forum, more than $400mn in new investment commitments have been mobilised into Nigeria’s renewable energy manufacturing value chain. This includes solar panels, smart metres, battery storage, and recycling facilities.”

Shettima said the projects were expected to create more than 1,500 jobs across multiple states, and confirmed President Bola Tinubu’s commitment to streamlining energy transition policies by improving incentives for local manufacturers, consolidating regulatory frameworks, and improving collaboration with the investors, development partners, and the government.