Business and Economy
Tinubu conducts $250m Lithium factory in Nasarawa
By David Okpashi
President Bola Ahmed Tinubu Thursday carried out a ground breaking ceremony to commence the construction of a $250million lithium factory in Nasarawa State.
Innaugurating the Ganfeng Lithium Industry Limited factory in Endo community of Udege Development Area in Nasarawa Local Government Area of the state, Tinubu noted that the construction of the factory project was in line with his administration’s industrialization policy directed at providing adequate energy for the country.
Represented by the Minister of Solid Minerals Development, Dele Alake, the president commended the company for initiating for working in line with the federal government policy and assured Ganfeng of the federal government’s support.
“I want to congratulate this company for the feats recorded in Africa with greater interest in Nigeria. Under this administration, we shall do everything possible to discourage the carting away of our solid minerals without value addition.
“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”.
“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 the the federal government will put in place measures to create enabling environment for their operation in all their establishment in the country.
“We will support and turn around this idea into reality because you have dared to enter into a terrain that others have been too scared to venture into. I am convinced that my presence here will give you the boost to deliver this project according to specifications,” President Tinubu declared.
Also speaking, President of Ganfeng Lithium Industry Limited, Pan Quen, disclosed that the mega factory when completed would process 18,000 metric tons of lithium per day and 4.5 million metric tons annually.
He explained further that the project has a duration of 24 months, adding that the factory would also have the capacity of providing 2,500 direct and indirect employments to Nigerians.
“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.
On his part, Governor Abdullahi Sule stated that Nasarawa State government would continue to support investor by creating enabling environment for the growth and sustainablly of the factory in the state
He however expressed gratitude for considering Nasarawa for the project by Ganfeng and other parts of the country