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Nigeria’s Vice President Kashim Shettima on Tuesday presented the country’s 200-billion-dollar energy transition potential to global investors at the United Nations General Assembly in New York.
Speaking at a roundtable hosted by the Business Council for International Understanding (BCIU), he stressed the importance of partnerships to unlock multi-billion-dollar opportunities across the energy sector.
“With 210 trillion cubic feet of gas reserves and some of Africa’s highest solar irradiation levels, Nigeria offers a 200-billion-dollar energy transition opportunity,” he said.
Shettima explained that fiscal incentives and VAT waivers are reducing investment risks in both traditional and renewable energy assets, including gas-fired plants, off-grid solar, and clean hydrogen projects.
He acknowledged a one-billion-dollar annual infrastructure gap in transport, ports, and power, but noted that the government is using InfraCorp and the Sovereign Wealth Fund to blend public and private capital into metro lines, dry ports, and industrial corridors—building the backbone of West African trade.
Highlighting Nigeria’s improved sovereign outlook from Fitch and Moody’s, Shettima said reforms such as exchange rate liberalisation and fuel subsidy removal have boosted credibility and resilience.
He added that Nigeria’s 44 commercially viable minerals, valued at over $700 billion, place the country at the heart of the global green transition.
He urged investors to take early stakes in lithium, gold, bitumen, and rare earths, describing Nigeria as “Africa’s production floor and innovation lab.
