Nigeria, UK Firm Seal €100 Million Deal to Boost Clean Energy Development

The Energy Commission of Nigeria (ECN) has signed a landmark Memorandum of Understanding (MoU) with UNIDACO Limited, a London-based energy investment company, for an initial €100 million investment aimed at advancing Nigeria’s clean energy transition.

The agreement was formalized at the House of Lords, London, during the Renewed Hope Global Dialogue (UK Edition) — a high-profile event bringing together international investors, policymakers, and energy experts to discuss sustainable development partnerships.

Speaking at the ceremony, the Director General of the Energy Commission of Nigeria, Dr. Mustapha Abdullahi, described the deal as a strategic step toward unlocking Nigeria’s renewable energy potential.

“This partnership underscores our commitment to expanding renewable energy access, driving innovation, and strengthening Nigeria’s capacity to harness clean technologies,” Dr. Abdullahi stated.

He emphasized that the MoU aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which identifies sustainable energy as a key driver of industrialization, economic growth, and social development.

Dr. Abdullahi also highlighted that the signing ceremony was witnessed by prominent dignitaries and investors from Nigeria, the United Kingdom, and other countries, reflecting global confidence in Nigeria’s energy sector reforms.

“This milestone reaffirms our resolve to deepen international cooperation and attract responsible investments that will accelerate Nigeria’s energy transformation. Together, we are charting a new course toward an inclusive, energy-secure, and prosperous nation built on innovation and collaboration,” he added.

The €100 million investment will focus on expanding renewable energy infrastructure, promoting off-grid power solutions, and strengthening local capacity for clean technology manufacturing and deployment.

UNIDACO Limited’s Managing Director, who represented the company at the event, expressed optimism about the collaboration, noting that Nigeria’s vast energy potential presents a promising environment for sustainable investment.

With this agreement, Nigeria moves a step closer to achieving its energy transition goals and reducing dependence on fossil fuels, while positioning itself as a regional hub for renewable energy innovation and green industrialization.