President Bola Ahmed Tinubu has marked the commencement of construction for a colossal lithium factory worth $250 million. The factory, established by Ganfeng Lithium Industry Limited, is poised to become a significant player in the lithium processing industry.
Once operational, the mega factory is expected to process a remarkable 18,000 metric tons of lithium daily, equivalent to an annual production of 4.5 million metric tons. This ambitious project, located in the Endo community of Udege Development Area in Nasarawa Local Government Area, represents a significant step in President Tinubu’s industrialization policy.
During the inauguration, President Tinubu, represented by the Minister of Solid Mineral Development, emphasized the importance of the factory in fulfilling the country’s energy needs. He stated, “The construction of the factory project was in line with his administration’s industrialization policy directed at providing adequate energy for the country.”
Nigeria Attracts Investor Interest in Lithium Deposits
The Nigerian President affirmed the government’s commitment to supporting the endeavors of Ganfeng Lithium Industry Limited. He particularly addressed the issue of raw solid mineral exports, asserting that the era of exporting raw minerals from Nigeria without value addition has come to an end. Collaborating with Customs, the government aims to detect and prevent the illegal export of raw materials.
President Tinubu hailed Ganfeng’s decision to establish a factory for lithium batteries as a significant development that would not only enhance the value of Nigeria’s products but also generate both direct and indirect employment opportunities for Nigerians.
Furthermore, he assured that the government would create a conducive environment for Ganfeng’s operations in the country, emphasizing their bold move into the terrain of lithium production.
The President concluded, “This bold move marks a new chapter in Nigeria’s journey towards industrialization and energy independence.” The Ganfeng Lithium Industry Limited factory is expected to make a substantial contribution to Nigeria’s economic growth and energy sector development.
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