Nigeria Invests $500 Million to Boost Solar Manufacturing and Export Locally Made Panels to Ghana
Nigeria’s Minister of Power, Adebayo Adelabu, has announced that the Federal Government, in collaboration with state governors and private investors, has secured about $500 million to establish solar manufacturing plants across the country.
Adelabu revealed that Nigeria has begun exporting locally produced solar panels to Ghana, marking a major milestone in the nation’s push toward renewable energy independence and regional energy leadership.
He explained that following the Nigerian Renewable Energy Innovation Forum organized by the Rural Electrification Agency (REA), the government finalized investment agreements valued at nearly $500 million with both state governments and private sector partners.
According to Adelabu, the initiative aims to add approximately 4 gigawatts of solar manufacturing capacity annually—equivalent to nearly 80% of Nigeria’s current total power generation.
The plan will also strengthen the domestic production of solar panels, batteries, and meters, reducing import dependence and positioning Nigeria as a major renewable energy hub in West Africa.
Adelabu noted that companies engaged in local production will receive financial support and government-backed deposits to encourage large-scale manufacturing.
This, he said, will help Nigeria meet its clean energy targets, create new jobs, and expand its role as a regional power hub.
Highlighting recent progress, the minister stated that Nigeria has already started exporting solar panels to Ghana, with plans to scale up exports to other African markets. “Our goal is to make Nigeria the central hub for renewable energy production in West Africa, and eventually across the continent,” he said.
The minister emphasized that the initiative will deliver wide-ranging economic benefits, including job creation, foreign exchange earnings, and faster development of solar infrastructure.
Adelabu also underscored the importance of training and empowering young Nigerians in renewable energy technologies to sustain growth in the sector.
He assured investors that the Federal Government is fostering a supportive environment for private sector participation across the entire power value chain, especially in transmission.
“The power sector is open for business,” Adelabu stated. “We are committed to creating an investment-friendly environment where investors can confidently recover their capital and profits.
I have no doubt that investors will be proud to participate in Nigeria’s growing power industry.”
