The Nigeria-Vietnam Chamber of Commerce and Industry (NVCCI) has announced a strategic collaboration with a Vietnamese Joint Stock Company focused on delivering sustainable renewable energy technologies, in a move aimed at addressing Nigeria’s deepening energy crisis.
In a statement issued on Tuesday, the President of NVCCI, Oye Akinsemoyin, said the partnership reflects a long-term vision to introduce green energy alternatives into Nigeria’s power sector. He noted that renewable energy, due to its inexhaustible nature and environmentally friendly attributes, is becoming an increasingly important resource globally, especially in the context of climate change and the push for net-zero emissions.
“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.
He explained that the NVCCI has, over the past 15 months, invested millions of naira in establishing technology partnerships with Vietnam, leveraging the country’s renewable energy expertise to create viable solutions tailored for the Nigerian environment.
According to him, this initiative aligns with the global call to shift from finite fossil fuels—like coal, petroleum, and natural gas—to more sustainable sources, such as solar, wind, and hydro power, that are cleaner and self-replenishing.
Akinsemoyin disclosed that, as part of this growing collaboration, the NVCCI and the Vietnam Chamber of Commerce and Industry (VCCI) are working together to organise an investors’ forum, specifically focused on the renewable energy sector. The aim, he said, is to bring together policymakers, industry practitioners, and investment stakeholders to identify and develop models that will work best in the Nigerian energy landscape.
“We’re planning a comprehensive agenda that will guide investors on how to enter and thrive in Nigeria’s renewable energy market,” Akinsemoyin said.
The proposed forum, still in the draft planning phase, is expected to open doors for new foreign direct investment in Nigeria’s energy infrastructure, especially at a time when unreliable electricity supply continues to limit economic productivity and quality of life.
Highlighting the economic potential of stronger bilateral ties, Akinsemoyin revealed that trade between Nigeria and Vietnam hit $1 billion in 2024, citing data from the Embassy of Vietnam. This trade involves Nigeria exporting commodities such as raw cashew nuts, coconuts, and oily seeds, while Vietnam exports products like electric batteries, knit t-shirts, and rolled tobacco.
The partnership is also expected to support Nigeria’s efforts to diversify its energy mix, reduce dependence on gas and diesel-powered generators, and provide off-grid solutions for rural and underserved communities.
As global energy policies continue to evolve, both countries are looking to solidify this cooperation 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 that it will continue to play a facilitative role in deepening Nigeria-Vietnam business relations, particularly in sectors like energy, agriculture, and manufacturing, that have long-term benefits for both economies.
