FG says int’l investors interested in Nigeria’s lithium

The federal government says international investors are interested in Nigeria’s lithium.

Speaking with TheCable during an XSpace on Monday, Segun Tomori, special assistant on media to Dele Alake, the minister of solid minerals development, said lithium is currently the most sought-after mineral due to its role in the production of electric vehicles, solar panels, and other green energy technologies.

“Lithium is a major dragnet, it is what attracts a lot of investors across the world,” Tomori said.

“That is understandable because lithium plays a huge role in the production of electric vehicles, solar panels, and a whole lot of things that we need to diversify to green energy.

“Lithium is topping the list, gold is also in contention, nickel, cobalt too.

“Lithium is topping the charts in terms of interest, and we have seen the springing up of lithium factories in Nigeria already.”

According to Tomori, the minister inaugurated a lithium factory in 2024.

He said so far, two factories have been commissioned, with another currently under construction.

“We did the groundbreaking for another lithium factory in Abuja that would come up this year, so lithium factories are springing up,” he said.

“The attention of the international mining industry is focused on lithium because lithium is a critical raw material for the production of solar panels, electric vehicles, and the likes and associated products which is contiguous for our move to a green energy.”

Tomori also highlighted efforts to create an enabling environment for investors, including streamlining the process for them to invest and addressing security concerns around mining sites.

When asked if Nigeria is ready to fully exploit its lithium potential, Tomori highlighted the growing government commitment, especially in Nasarawa state, which he said holds substantial lithium reserves.

He commended Abdullahi Sule, governor of Nasarawa, for his active involvement in the sector, noting that the governor has positioned the state as a key player in lithium mining.

“Nasarawa governor was in our office last week or a week before to see the minister, he is a constant face in the office, to converse with the governor because the Nasarawa governor, Abdullah Sule has invested in developing the sector,” the minister’s aide said.

“The minister is one to say at some foral that the governor of Nassarawa state is the minister of state for solid minerals. That is because of his passion to also develop the sector, and he is harnessing the lithium resources.

“Lithium is prevalent in Nasarawa state, he is harnessing that in collaboration with the private sector.

“He has applied to operate as a limited liability company as a state, he is also collaborating with private sector players.”

‘LITHIUM FACTORIES TO BE COMMISSIONED IN NASARAWA THIS YEAR’

Tomori announced that two lithium factories have already started operations in Nasarawa, with more set to be commissioned this year.

However, he acknowledged that Nigeria’s mining sector is still developing and requires technical expertise from established mining nations.

“We still require technical partnership assistance from developed mining nations, and that’s why you see the minister engaging with other countries that have become veterans you know in the mining industry so that we can get requisite technical partnership,” he said.

“I think two weeks ago, the UK deputy high commissioner to Nigeria visited the minister and issues relating to technical assistance, partnership, and capacity building basically featured prominently in the discussion.

“Also, the president and the minister’s trip to France is also about that technical assistance, capacity building and all that.”

Despite the challenges, Tomori expressed confidence in Nigeria’s readiness to capitalise on its lithium reserves.