BUSINESS DAY
Nigeria has secured a $1.3 billion investment in lithium, marking a major milestone in the mining sector.
The Federal Government has secured a $1.3 billion investment in Nigeria’s lithium sector, signaling increased international confidence in the country’s mining industry. Minister of Solid Minerals Development, Dele Alake, announced the deal, emphasizing its alignment with the administration’s agenda to diversify the economy and promote value addition.
“The era of exporting raw solid minerals from Nigeria is over,” Alake stated, highlighting a shift toward local processing and job creation.
The investment includes the establishment of a lithium battery factory in Nasarawa State, expected to process 18,000 tons of lithium ore daily and create thousands of jobs.
Interest in Nigeria’s lithium reserves has surged, with regional and international stakeholders showing intent to collaborate on value-chain development to support clean energy technologies.