Nigeria-Vietnam Chamber: Renewable Energy Partnership
Nigeria, Vietnam Partner to Boost Renewable Energy Sector
The Nigeria-Vietnam Chamber of Commerce and Industry (NVCCI) is partnering with a Vietnamese Joint Stock Company to introduce sustainable renewable energy technologies to Nigeria. This collaboration aims to alleviate Nigeria’s ongoing energy challenges.
NVCCI President Oye Akinsemoyin said the partnership demonstrates a commitment to integrating green energy alternatives into Nigeria’s power sector. He emphasized the growing global importance of renewable energy, citing its inexhaustible and environmentally friendly nature, especially in the context of climate change and net-zero emission goals.
akinsemoyin noted that the NVCCI has invested millions of naira over the past 15 months to establish technology partnerships with Vietnam. These partnerships leverage Vietnam’s expertise in renewable energy to develop solutions tailored for nigeria.
This initiative aligns with the global movement away from finite fossil fuels, such as coal, petroleum, and natural gas, toward cleaner, self-replenishing sources like solar, wind, and hydro power.
The NVCCI and the Vietnam Chamber of Commerce and Industry (VCCI) are jointly planning an investors’ forum focused on the renewable energy sector. The forum will gather policymakers, industry experts, and investment stakeholders to identify and develop effective models for the Nigerian energy landscape, according to Akinsemoyin.
“Renewable energy is a natural, green source of energy, and it attracts the attention of a large proportion of the energy market demand,” Akinsemoyin said.
The forum aims to attract new foreign direct investment in Nigeria’s energy infrastructure, particularly as unreliable electricity continues to hinder economic productivity and quality of life.
akinsemoyin reported that trade between Nigeria and Vietnam reached $1 billion in 2024, according to data from the Embassy of Vietnam. Nigeria exports raw cashew nuts, coconuts, and oily seeds, while Vietnam exports electric batteries, knit t-shirts, and rolled tobacco.
The partnership is also expected to support Nigeria’s efforts to diversify its energy mix, reduce reliance on gas and diesel-powered generators, and provide off-grid solutions for underserved communities.
both countries view this collaboration as a mutually beneficial strategy. nigeria gains access to Vietnamese clean energy technologies, while Vietnamese companies find new markets for their innovation and technical services.
The NVCCI has assured stakeholders of its commitment to strengthening Nigeria-Vietnam business relations,particularly in energy,agriculture,and manufacturing.
What’s next
The NVCCI plans to continue facilitating deeper business ties between Nigeria and Vietnam, with a focus on sectors that offer long-term benefits to both economies, including further growth of sustainable energy solutions.