Nigeria’s President, Bola Ahmed Tinubu said the renewable energy sector has attracted over $2 billion in investment, emerging as a significant growth area within the country’s economy.
Tinubu stated this at the African Natural Resources & Energy Investment Summit 2024, held at the State House Conference Centre in Abuja.
Represented by Vice-President Kashim Shettima, Tinubu highlighted his administration’s commitment to fostering private sector engagement in renewable energy.
He said “Nigeria has secured over $2 billion in renewable energy investments, positioning the sector as a key growth area in our economy. Our goal is to maintain this momentum and increase private sector participation, including the local production of solar panels and batteries,” he stated.
He also underscored the petroleum industry’s ongoing importance to Nigeria’s economy. “While we pursue renewable and cleaner energy sources, oil and gas remain vital to our energy and economic landscape,” Tinubu added.
Outlining strategic priorities, Tinubu emphasized attracting further investment in the oil and gas sector, boosting oil production to 2.1 million barrels per day by December 2024, enhancing midstream and downstream infrastructure, combating theft, and ensuring environmental accountability.
