Vice President Kashim Ibrahim Shettima has assured Nigerians that their economic pain will soon be over as the country is entering into a new phase of economic prosperity.

Speaking during the Nigeria Renewable Energy Innovation Forum (NREIF) on Tuesday in Abuja, Shettima said President Bola Ahmed’s heart is with Nigerians and currently feel their pains.

“The president’s heart goes out to the pains that Nigerians are experiencing, but be reassured that we have crossed the Rubicon and we are on a path to sustaining growth and blessings.”

Daily Trust reports that the event was organised by the Rural Electrification Agency (REA) to seek investments in local production of renewable products.

The vice president stated that the event is an invitation to establish Nigeria as a hub for renewable energy manufacturing in Africa and Nigeria’s energy transition presents an investment opportunity of over $410bn between now and 2060.

He stated, “Of this, more than N23bn is required to expand energy access and connect the millions of Nigerians who still live in energy poverty. But beyond access lies our grander ambition, which is to deliver a power system capable of 277 gigawatts of total installed capacity by 2060. This ambition demands more than investment, it demands innovation, local capacity, and commitment.

“That is why the theme of this year’s forum, Implementing the Nigeria First Policy, Facilitating Local Content Development and Manufacturing in the Renewable Energy Ecosystem, 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.”

He added that under the forum, more than $400 million 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. These investments are projected to create over 1,500 direct jobs across multiple states and reflect growing global confidence in Nigeria’s clean energy industrialisation drive. I am convinced that each of us gathered here is determined to ensure that the outcomes of this forum do not end in communiques but are translated into factories, jobs, electrified schools, thriving rural enterprises, and resilient communities powered by clean energy. That is the true test of our resolve.”

On his part, the Minister of Power, Adebayo Adelabu, said the NRIP 2025 isn’t just another event but a declaration that Nigeria is ready to lead Africa’s renewable energy transformation.

“This year’s theme, Implementing the Nigeria First Policy, speaks to something far deeper than manufacturing. It embodies a bold commitment to national pride, industrial competence, and long-term economic sustainability.

“In the power sector, the Nigeria First Policy reflects a determination to ensure that the next generation of clean energy technologies, from solar panels to battery energy storage systems, deployed across the country, proudly carry the label, Made in Nigeria.” (Daily Trust)