Nigeria has taken another major step toward clean energy development after signing a €100 million (US$116 million) investment deal with UNIDACO Limited, a London-based company. The agreement, signed with the Energy Commission of Nigeria (ECN), aims to accelerate the country’s shift to renewable energy and strengthen its industrial capacity.
The investment will support projects under Nigeria’s Renewed Hope Programme, designed to expand renewable power generation, create green jobs, and promote sustainable industrial growth. It also aligns with the government’s broader vision of achieving a US$1 trillion economy by 2030 and reaching carbon neutrality by 2060.
According to officials, the partnership reflects Nigeria’s growing attractiveness as an investment destination in the renewable sector. The funds are expected to back infrastructure projects that leverage the nation’s vast solar, wind, hydro, and biomass potential.
While the agreement marks a significant milestone, experts note that its success will depend on implementation and the country’s ability to strengthen its grid systems and regulatory framework. If fully realized, the UNIDACO investment could serve as a catalyst for cleaner, more sustainable growth in Africa’s largest economy.
