Investors Show Growing Interest In Nigeria’s Renewable Energy Sector – Presidency

Nigeria’s renewable energy sector is attracting increased attention from international investors, according to President Bola Tinubu’s Special Presidential Envoy on Climate Action, Ajuri Ngelale.

Ngelale reported a surge in investor interest following recent engagements with key figures in the renewable energy industry.

On Thursday, he met with Chen Qiang, Chairman of Blackstone New Energy, a company that recently established a 1 million ton per annum (mtpa) lithium refining plant in Nasarawa State.

The firm is now planning to triple its capacity with a new facility in Evergreen City.

He said “investor interest in contributing beneficially to Nigeria’s aggressive move toward value chain localization in renewable energy technology manufacturing is rising globally.

“Which was evident once more on Thursday as I hosted the Chairman of Blackstone New Energy, Chen Qiang, who recently opened a 1mtpa capacity Lithium refining plant in Nasarawa State and now seeks to build a facility with tripled capacity in the new Evergreen City. Jobs, tax revenues, and inclusive economic growth for Nigerian youths. This is the President’s vision.

“Later on Thursday evening, I hosted a virtual call with the Chief Executive Officer of the G-7’s Climate Investment Funds (CIF), Tariye Gbadegesin, which oversees assets and pledges of $11 billion and is focused on climate investments in emerging markets.

“We held an elaborate discussion on Nigeria’s present and future collaboration with the Fund as we embark on our green industrialisation drive.”