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Global investors eye Nigeria’s lithium reserves.
By Stella
International investors are showing increasing interest in Nigeria’s lithium reserves, according to Segun Tomori, special assistant on media to Dele Alake, the minister of solid minerals development.
During an XSpace session hosted by TheCable on Monday, Tomori described lithium as the most sought-after mineral globally, citing its critical role in producing electric vehicles, solar panels, and other green energy technologies.
Zimbabwe currently holds the largest share of lithium deposits in Africa, with significant Chinese investments. But Nigeria is also eager to claim a piece of the global market. By 2030, Africa is projected to supply 20% of the world’s lithium.
In 2023, China’s Ming Xin Mineral Separation Nig Ltd. was chosen by Kaduna State to build Nigeria’s first lithium-processing plant, with plans to manufacture batteries for electric vehicles (EVs).
In 2022, the Nigerian government claimed it had rejected a proposal from Tesla to purchase raw lithium from the country.
Ayodeji Adeyemi, special assistant to the minister of mines and steel development, told Rest of World that the proposal was turned down because it did not align with Nigeria’s new mining policies.
ecently, President Ramaphosa of South Africa also expressed his interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of EV batteries.
Source: AFRICABUSINESSINSIDER
