Nigeria, UK Firm Seal €100m Energy Investment Deal at House of Lords

The Energy Commission of Nigeria (ECN) has signed a landmark Memorandum of Understanding (MoU) with UNIDACO Limited, London, for an initial €100 million investment aimed at boosting 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-level forum convened to attract international investment and foster sustainable partnerships for Nigeria’s development.

Speaking at the event, the Director General of the ECN, Dr. Mustapha Abdullahi, described the deal as a major milestone in advancing renewable energy access and innovation across Nigeria.

According to him, “this partnership underscores our commitment to expanding renewable energy access, driving innovation, and strengthening Nigeria’s capacity to harness clean technologies. Moreover, it aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly on sustainable energy solutions as a catalyst for economic growth and development.”

Dr. Abdullahi noted that the MoU signing took place in the presence of global investors, policy leaders, and dignitaries from Nigeria and abroad. He emphasized that the collaboration with UNIDACO Limited represents a strategic step toward accelerating Nigeria’s transition to a low-carbon economy.

“The Energy Commission of Nigeria remains steadfast in its pursuit of partnerships that deliver real impact,” he added. “This milestone reaffirms our resolve to deepen global collaborations that will fast-track Nigeria’s energy transformation. Together, we are charting a new course toward an inclusive, energy-secure, and prosperous nation built on innovation and collaboration.”

The €100 million investment is expected to fund renewable energy infrastructure projects, clean technology research, and local capacity development initiatives aimed at improving access to sustainable power, particularly in underserved communities.

Industry observers have hailed the ECN–UNIDACO partnership as a positive signal to international investors about Nigeria’s readiness to attract and manage large-scale energy investments under its clean energy transition roadmap.