Taiwanese Firms Plan Multi-Billion Naira Solar Investment In Nigeria

Taiwanese companies are preparing to invest billions of naira in Nigeria’s renewable energy sector, with a strong focus on building solar power plants. This move is being led by the Taiwan-Africa Business Association (TABA) as part of efforts to improve trade and economic relations between Taiwan and Nigeria.

Speaking to Nigerian journalists in Taipei, TABA Chairman Chih-Peng Huang shared that a high-level delegation will visit Nigeria later this year. The visit aims to sign agreements with government bodies and private companies. He explained that solar energy has been identified as a key area because Nigeria continues to face electricity shortages. According to him, reliable power is important for economic growth, and solar energy can help meet this need.

The planning for these solar projects is already at an advanced stage. A suitable construction site has been identified, and a leading Taiwanese engineering company is expected to handle the development work. At the same time, Everlum Co. will focus on setting up solar panel manufacturing in Nigeria. The project is expected to show major progress within the next one to two years.

At present, around 80 Taiwanese companies are already operating in Nigeria. Feedback from these firms suggests that the business environment remains supportive, even with global economic challenges. Trade between Taiwan and Nigeria is currently valued at about $204 million, but officials believe this can grow significantly. Nigeria’s position as Africa’s largest economy and most populous country makes it an attractive destination for investment.

Taiwan’s Foreign Affairs Minister, Lin Chia-lung, also expressed interest in expanding cooperation beyond energy. He mentioned areas like digital technology, healthcare, and agriculture as future opportunities. He noted that Nigeria plays an important role in Africa’s development and said Taiwan is ready to share its experience in industrial growth.

In addition to business investments, both sides are also looking to strengthen diplomatic ties. Plans are being discussed for the possible return of Taiwan’s representative office to Abuja. These steps are expected to create a better environment for cooperation and help turn these investment plans into long-term benefits for both countries.