President Tinubu lays foundation for $250m lithium factory in Nigeria
President Tinubu lays foundation for $250m lithium factory in Nigeria
• On Thursday, President Bola Ahmed Tinubu led the groundbreaking ceremony to initiate the construction of a $250 million lithium plant in Nasarawa State.
• The mega factory, upon completion, will have the capacity to process 18,000 metric tons of lithium daily, totalling 4.5 million metric tons annually.
• The factory is expected to create employment opportunities for around 2,500 Nigerians, both directly and indirectly.
On Thursday, President Bola Ahmed Tinubu led the groundbreaking ceremony to initiate the construction of a $250 million lithium plant in Nasarawa State.
The mega factory, upon completion, will have the capacity to process 18,000 metric tons of lithium daily, totalling 4.5 million metric tons annually.
During the inauguration of the Ganfeng Lithium Industry Limited factory located in the Endo community within the Udege Development Area of Nasarawa Local Government Area, President Tinubu stressed that the construction of this factory aligns with his administration’s industrialization policy which is aimed at ensuring ample energy supply for the nation.
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.
“I want to emphasize 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,” the Nigerian President said.
“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 all their establishment in the country.
Pan Quen, the President of Ganfeng Lithium Industry Limited, revealed that the project is set to span over 24 months. According to him, the factory is expected to create employment opportunities for around 2,500 Nigerians, both directly and indirectly.
“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,” Queen declared.
Africa.businessinsider.com
