President Bola Ahmed Tinubu on Thursday presided over the groundbreaking ceremony of a $250 million lithium factory in Nasarawa State, marking the start of a new era of economic opportunities for the region.
The project which is a result of a collaboration between the Nigerian government and a Chinese firm, Ganfeng Lithium Industry Limited, is part of the government’s ongoing efforts to diversify the economy and attract foreign investment.
The mega factory, upon completion, has the capacity to process 18,000 metric tons of lithium daily, totalling 4.5 million metric tons annually.
It is expected to create employment opportunities for around 2,500 Nigerians, both directly and indirectly.
Represented by the Minister of Solid Minerals Development, Dele Alake, the president commended the company for initiating working in line with the federal government policy and assured Ganfeng of the federal government’s support.
President Tinubu through the minister said; “I want to emphasise the fact that the era of exporting raw solid minerals from Nigeria is over. To further demonstrate our seriousness to stop the illegal export of our solid minerals, we are collaborating with the Customs to detect both major and minor raw materials from the ports. Your decision to set up a factory to make lithium batteries is a welcome development that will not only add value to the nation’s product but create direct and indirect jobs for Nigerians”
He gave an assurance that the federal government will put in place measures to create an enabling environment for their operation in the country.
President of Ganfeng Lithium Industry Limited, Pan Quen at the ceremony, said; “I strongly believe that with the construction of the lithium factory here in Nasarawa State, more of Chinese stakeholders will invest in Nigeria which would help to boost the economy of the nation".
The construction of the lithium factory is a significant boost for Nigeria’s renewable energy sector. Lithium is a critical component in the production of batteries for electric vehicles and renewable energy storage systems. The factory is expected to increase Nigeria’s lithium production capacity, thereby contributing to the growth of the renewable energy sector.
Beyond contributing to the renewable energy sector, the lithium factory is expected to create job opportunities and enhance the local manufacturing industry. This development is in line with the government’s strategy to reduce unemployment and stimulate economic activity within the country. The groundbreaking ceremony is a major step forward in the realization of Nigeria’s renewable energy goals and the development of the lithium industry in the country.
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