Faith Nyasuguta
Nigeria’s lithium reserves are drawing significant attention from international investors, according to Segun Tomori, special assistant on media to Dele Alake, the country’s Minister of Solid Minerals Development.
Speaking during an XSpace session hosted by TheCable, Tomori highlighted lithium’s increasing global demand, particularly for its use in electric vehicles (EVs), solar panels, and other green energy technologies. He described lithium as the most sought-after mineral, attracting a surge of investors worldwide.
“Lithium is a major dragnet; it is what attracts a lot of investors across the world,” Tomori stated. “Gold, nickel, and cobalt are also in contention, but lithium is topping the charts in terms of investor interest. We have already seen the establishment of lithium processing factories in Nigeria.”
Africa’s Growing Role in the Lithium Market
While Zimbabwe currently leads Africa in lithium production, largely due to substantial Chinese investments, Nigeria is actively positioning itself to claim a larger share of the global market. By 2030, Africa is expected to supply 20% of the world’s lithium, further strengthening the continent’s role in the clean energy sector.
In 2023, China’s Ming Xin Mineral Separation Nig Ltd. was selected by Kaduna State to develop Nigeria’s first lithium-processing plant, with the aim of manufacturing EV batteries. This move aligns with Nigeria’s push to create value-added industries around its mineral resources rather than exporting raw materials.
Nigeria’s Stance on Lithium Export Policies
The Nigerian government has adopted a strict policy to ensure local value addition before lithium is exported. In 2022, officials claimed they rejected a proposal from Tesla to purchase raw lithium from Nigeria.
Ayodeji Adeyemi, special assistant to the Minister of Mines and Steel Development, explained that the decision was in line with Nigeria’s new mining policies.
“Our policy requires that raw mineral ores, including lithium, undergo some processing before being exported to create jobs and build local industries,” Adeyemi said. “We are not asking for finished goods, but there must be value addition before export.”
Strategic Partnerships and Future Prospects
Recently, South African President Cyril Ramaphosa expressed interest in collaborating with Nigeria to harness critical minerals, particularly lithium, for the green energy transition and EV battery development.
Nigeria has already commissioned two lithium factories, with a third under construction, signaling its intent to become a major player in the global lithium supply chain. As the country ramps up its processing capabilities, it is positioning itself as a key contributor to the world’s clean energy revolution.
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