General
Shettima Sells Nigeria’s $200bn Energy Transition Opportunity to Investors
By Adedapo Adesanya
The Vice President, Mr Kashim Shettima, has showcased Nigeria’s $200 billion energy transition opportunity to investors, emphasizing the need for partnerships to maximize the multi-faceted, multi-billion investment opportunities across the country.
Mr Shettima highlighted Nigeria’s sovereign rating by platforms like Fitch and Moody’s implies the country is positioned as the natural hub for the African Continental Free Trade Area (AfCFTA) $3.4 trillion market.
He seized the moment to draw the attention of investors worldwide to the multi-billion, multi-faceted economic resets across Nigeria, as embodied by President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Mr Shettima stated this at the Roundtable hosted by the Business Council for International Understanding (BCIU) with the theme Risk, Reform, Return, held on the margins of the 80th Session of the United Nations General Assembly (UNGA) in New York City.
The VP, representing President Bola Tinubu at UNGA80, highlighted that in this interconnected age, the wealth of any nation is neither achieved through miracles nor inherited.
Showcasing the wealth of the nation, he began by saying that Nigeria is West Africa’s largest economy and Africa’s largest consumer market, with 236 million people today, projected to reach 320 million by 2040.
Beyond being a demographic giant, Mr Shettima pointed out that with a median age of about 17, more than 58 percent of whom are under 30, Nigeria is home to one of the deepest talent pools in the world.
“When you add to this our geographic position as a natural hub for trade between Africa, the Americas, and Asia; our 44 distinct natural resources; our five tech unicorns; the largest oil reserves in Africa; and 210 trillion cubic feet of proven gas reserves, you see that Naija no dey carry last,” he added.
The Vice President told the global audience that since mid-2023, under President Bola Ahmed Tinubu’s Renewed Hope Agenda, Nigeria has embarked on one of the boldest economic resets in its history.
He cited the unification of Nigeria’s exchange rates, the removal of decades-old fuel subsidies that distorted the Nigerian economy, the modernization of Nigeria’s tax and customs regimes, strengthened fiscal oversight, and the overhaul of Nigeria’s trade and investment policies as shining examples of the Renewed Hope reforms.
“This reset includes full implementation of the AfCFTA, the roll-out of a National Single Window for trade, a new Investment and Securities Act, an upgraded PPP framework, and modernized bilateral investment treaties. The results are already visible. Our GDP growth is accelerating, our external reserves are strengthening, and inflation is moderating. This is why investor commitments are also rebounding,” he stated.
Stressing Nigeria’s vast economic transformation and potential, Shettima recalled that in April, Fitch upgraded Nigeria’s sovereign rating to B with a stable outlook, and Moody’s lifted its issuer rating to B3 with a stable outlook.
He highlighted that the two rating platforms cited Nigeria’s improved buffers and clearer policy direction as their barometer, adding that this positions Nigeria as the natural hub for the AfCFTA’s 3.4 trillion-Dollar market.
“We have also built a four-pillar incentives framework designed to reduce investor risk, accelerate cash returns, and make Nigeria one of the most competitive destinations for capital in the Global South. A simpler, predictable tax regime now offers clear capital allowances, research and development deductions, and export-linked rebates, while investors in priority sectors can achieve faster breakeven through five percent annual tax credits on qualifying capital expenditure.”
He also shared with the audience that in Nigeria’s Special Economic Zones, the federal government offers duty-free imports, rent concessions, rebates on non-oil export proceeds, and integrated logistics platforms that unlock working capital for exporters.
“Cross-border protections now include updated bilateral investment treaties, investor promotion and protection agreements, structured repatriation pathways, and streamlined FX access. These give investors confidence that their capital and profits are protected,” he said.
The Vice President added that the nation’s Special Agro-Industrial Zones are reducing post-harvest losses by up to forty percent and linking farmers directly to processing and export hubs, transforming Nigeria from a fragmented producer into a continent-scale food system serving millions across West Africa.
On energy, the Vice President disclosed that “With 210 trillion cubic feet of gas reserves and one of the highest solar irradiation levels in Africa, Nigeria offers a 200-billion-dollar energy transition opportunity.”
He stressed that fiscal incentives and VAT waivers are de-risking investment in both traditional and renewable power assets, from gas-fired independent power plants to off-grid solar and clean hydrogen pilots.
Mr Shettima noted that while Nigeria faces $1 billion annual gap in transport, ports, and power infrastructure, through InfraCorp and the Nigeria Sovereign Investment Authority, the government is blending sovereign and private finance to fund metro lines, dry ports, and industrial corridors, building the backbone of West African trade and creating long-term revenue streams for investors.
“Special Economic Zone clusters now host over five billion dollars in installed industrial capacity, with backward-integration incentives and AfCFTA corridors opening a multi-billion-dollar continental market. These reforms are transforming Nigeria into Africa’s production floor and innovation lab,” he said.
The Vice President maintained that Nigeria hosts forty-four commercially viable minerals worth over seven hundred billion Dollars under a new beneficiation and security regime.
He said investors can secure early positions in lithium, gold, bitumen, and rare earths critical to the global green transition.
By Aduragbemi Omiyale
About $20 million has been put down by Swedfund to support efforts that limit climate change in Africa and help communities adapt to its effects.
The funds would be deployed by the Helios Climate, Energy, Adaptation and Resilience (CLEAR) Fund to back African companies that reduce emissions, strengthen resilience and create green jobs.
Swedfund’s investment is expected to contribute to significant cuts in greenhouse gas emissions and to help businesses and small farmers adapt to a changing climate.
The investment strengthens Swedfund’s work to drive a sustainable and inclusive green transition in Africa.
Africa contributes less than 3 per cent of global carbon emissions but faces some of the most severe climate impacts. At the same time, the continent’s energy demand is expected to triple by 2050.
Swedfund’s investment in Helios CLEAR will help channel capital to businesses that drive low-carbon growth in areas such as renewable energy, sustainable transport, climate-smart farming, efficient use of resources and digital climate solutions.
“By investing in this sector, we can reduce emissions, build resilience and create green jobs, all vital for sustainable growth that benefits more people.
“Africa currently receives only a small share of global climate investment, yet the potential for climate-smart business is enormous.
“Through Helios CLEAR we help build the next generation of African climate-focused businesses,” the Investment Director for Energy and Climate at Swedfund, Ms Gunilla Nilsson, stated.
Helios CLEAR Fund is a Pan African growth equity fund managed by Helios Investment Partners, one of Africa’s leading private equity firms.
The fund targets investments that deliver measurable climate mitigation and adaptation outcomes. The fund is supported by multiple development finance institutions.
By Modupe Gbadeyanka
A member of the House of Representatives, Mr Abdussamad Dasuki, has alleged that the gazetted tax laws are different from the ones passed by the National Assembly.
Speaking on Wednesday during plenary at the green chamber, the opposition lawmaker the emphasised that content of the tax laws as gazetted was not what members of the parliament debated, voted on and passed.
In June 2025, President Bola Tinubu signed the four tax reform bills into law, becoming an act. The new laws are the Nigeria Tax Act (NTA), 2025, the Nigeria Tax Administration Act (NTAA), 2025, the Nigeria Revenue Service (Establishment) Act (NRSEA), 2025, and the Joint Revenue Board (Establishment) Act (JRBEA), 2025.
In September, they were gazetted by the federal government.
On the floor of the House yesterday, presided over by the Speaker, Mr Tajudeed Abbas, Mr Dasuki, while raising a matter of privilege, after reviewing the gazetted law and what was passed, he found out some discrepancies, appealing to the Speaker to ensure that all relevant documents, including the harmonised versions, the votes and proceedings of both chambers, and the gazetted copies currently in circulation, are brought before the Committee of the Whole for scrutiny by all members.
He warned that allowing laws different from those duly passed by the National Assembly to be presented to Nigerians would undermine the integrity of the legislature and violate constitutional provisions.
“Mr. Speaker, I will be pleading that all the documents should be brought before the Committee of the Whole.
“The whole members should see what is in the gazetted copy and see what they passed on the floor so that we can make the relevant amendment. Mr Speaker, this is the breach of the Constitution.
“This is the breach of our laws, and this should not be taken by this House,” Mr Dasuki said when rising under Order Six, Rule Two of the House Rules on a Point of Privilege.
In his remarks, Mr Abbas promised that the parliament would look into the matter.
By Adedapo Adesanya
Over 90 illegal mining sites have been reclaimed and 300 offenders prosecuted since the deployment of the Mining Marshals, a specialised task force established to secure Nigeria’s mineral assets.
This information was disclosed by the Minister of Solid Minerals Development, Mr Dele Alake, at the South West Leaders Conference held recently in Akure, the Ondo state capital.
He described the crackdown as a turning point in the battle against mineral theft and insecurity in mining communities.
“We created the Mining Marshals to tackle insecurity and illegal mining head-on. I’m proud to say that peace is returning to our mining fields,” he said.
According to Mr Alake, the initiative has strengthened investor confidence and improved government revenue.
“When you protect the minerals, you protect national wealth. That’s exactly what we’ve done with the Mining Marshals,” he stated.
He noted that beyond arrests and reclamations, the Marshals have restored safety in key mining corridors and curbed the activities of illegal foreign operators. “We are taking back control of our natural resources from criminal networks,” Mr Alake emphasised.
The minister reiterated the government’s commitment to maintaining the momentum through digital surveillance, stronger local intelligence, and inter-agency coordination.
“Our success proves that security is the bedrock of sustainable mining. We will keep refining this model until every site in Nigeria is safe, legal, and productive,” he added.
Launched last year, the marshals were given the mandate to stem theft and all nefarious activities around the nation’s minerals so that benefits are not extracted by the wrong people.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn