President Tinubu React As Nigeria's largest lithium facility Commenced Operation.


President Tinubu React As Nigeria's largest lithium facility Commenced Operation.

The launch of Nigeria's largest lithium processing facility in Lafia, Nasarawa State, has been praised by President Bola Tinubu, who described it as evidence of the country's attraction to foreign investment.Read full article 

 On Friday, May 10, in Abuja, Tinubu made this statement while meeting with the governor of Nasarawa, Abdullahi Sule, the chairman of Avatar New Energy Materials Company Limited, Hi Yongwei, and Zhenhua Pei, the chairman of Canmax Technologies.

Tinubu said: “It is a great joy to have you (the Chinese executives) in Nigeria. It is part of our campaign that Nigeria is open for business. We congratulate your courage in believing in us and the inauguration of the new factory. 

“There are other aspects of lithium that you are exploring in the country, especially in battery production. Nigeria is a huge market for solar panels. Africa is a major consumer of solar technologies. I do not see why these panels and batteries cannot be produced here. 

“The labour is cheaper. Our youths are vibrant and skilled. Our people are brilliant and adapt to new technology. The economy is increasingly more vibrant, and Nigeria is dependable. We have the consumption capacity and a surplus of steady-handed citizens with gifted minds and an innate drive to work and produce.

“You must not leave the community in ruins as you explore for our high-grade minerals. You must be concerned with cooperation and always care for the community.

“We are caring partners. We want your investments to succeed so that you can expand further. Whenever you call on us, we will help you. You can, in mutually-beneficial collaboration with us, dominate the solar panel market as part of a revolution in Africa and the West African sub-region. 

“You can always promote the interest of China and Nigeria as the best place in Africa to do business. We are preparing to produce in this country the solar technologies that the entire continent will use.”

The lithium plant, constructed by Avatar, a Chinese company, boasts a daily production capacity of approximately 4,000 metric tonnes. 

Additionally, Canmax Technologies, a prominent Chinese firm responsible for over 30% of global battery material production, revealed plans for a new $200 million investment in another lithium processing plant in Nasarawa State.

Source: X | FredrickNwabufo

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