International investors are increasingly turning their attention to Nigeria’s lithium reserves, signalling the country’s rising prominence in the global race for clean energy minerals. This insight comes from Segun Tomori, Special Assistant on Media to Dele Alake, Nigeria’s Minister of Solid Minerals Development.
In a recent XSpace session hosted by TheCable on Monday, Tomori highlighted the global demand for lithium, underscoring its crucial role in the production of electric vehicles (EVs), solar panels, and other green energy technologies. He emphasized that lithium is now regarded as the world’s most sought-after mineral.
“Lithium is a major dragnet, it is what attracts a lot of investors across the world,” Tomori stated, adding that, “Lithium is topping the list of minerals of interest, with gold, nickel, and cobalt also in competition. We’ve already seen lithium factories emerging in Nigeria.”
Currently, Zimbabwe holds the largest share of lithium deposits in Africa, bolstered by significant Chinese investments. However, Nigeria is eager to stake its claim in the global lithium market. Projections suggest that by 2030, Africa will supply 20% of the world’s lithium, a goal that Nigeria is determined to contribute to.
In 2023, Nigeria took a significant step in its lithium journey when Kaduna State selected China’s Ming Xin Mineral Separation Nig Ltd. to establish the nation’s first lithium-processing plant. The facility will not only process lithium but also manufacture batteries for electric vehicles, further positioning Nigeria as a key player in the global clean energy transition.
Nigeria’s determination to maximize its lithium reserves is also reflected in its approach to international offers. In 2022, the Nigerian government turned down a proposal from Tesla to purchase raw lithium from the country. According to Ayodeji Adeyemi, Special Assistant to the Minister of Mines and Steel Development, the rejection was due to the country’s new mining policies, which require the addition of value to raw mineral ores before exportation to create local jobs and build industries.
“Our new mining policy demands that you add some value to raw mineral ores, including lithium, before exporting. We’re not asking for finished goods, but we want to ensure that value is added to the mineral within the country,” Adeyemi explained.
In addition to international interest from companies like Tesla, South Africa’s President, Cyril Ramaphosa, has also expressed a keen interest in collaborating with Nigeria. The two countries are exploring ways to jointly harness critical minerals like lithium to support the green energy transition, with a focus on developing EV batteries.
Tomori further revealed that the country’s lithium industry is gaining momentum, with two lithium factories already commissioned in 2024, and a third currently under construction. This rapidly expanding infrastructure signals Nigeria’s growing role in the clean energy market and reinforces its ambition to become a central player in the global transition to sustainable energy.
As Nigeria ramps up its lithium processing capacity, the country is positioning itself as a key contributor to the global clean energy revolution.
Main Image: MSN
