Nigeria has joined the league of countries on the global map of lithium ore processing as president Bola Tinubu inaugurates one of the biggest such plants in West Africa. Government reports this investment is a major call for more investors to spark the economic boom and provide more jobs for Nigerians. The project is reported to be worth USD 250 million invested in Nigeria.
For years, Africa’s largest economy relied mainly on oil, but is now placing its bets on its mining industry. Nigeria wants to bank on the booming global lithium market. President Bola Tinubu said establishing the lithium company would create employment opportunities for the youth and position Nigeria as a key player in the global lithium market.The project is reported to be worth $250 million invested in Nigeria. It is in this line that the government’s Renewed Hope Agenda of diversifying the nation’s economy by leveraging on the mining sector to expand the country’s sources of revenue for socio-economic development.
The lithium processing factory built in Nasarawa State by a Chinese firm, Avatar New Energy Materials Company Limited is expected to process a substantial 18000 metric tons of lithium each day, contributing to an annual output of 45 million metric tons .
Godwill Akpabio, President of Senate – Nigeria
Nigeria over the years has relied on oil exports as the main factor in running its economy, a narrative the government seeks to change by investing more in other minerals such as lithium. establishing a lithium company would create employment opportunities for the youth and position Nigeria as a key player in the global lithium market.
