Nigeria’s shift toward processing lithium domestically rather than simply exporting raw ore stands to create new economic opportunities for mineral producing states across the country, according to mineral economics expert and financial consultant Wale Bolorunduro, who praised Nasarawa State’s move into producing lithium concentrate and battery grade lithium carbonate as a milestone in Nigeria’s broader industrialisation and mineral value addition agenda.
Speaking to newsmen in Osogbo following the inauguration of West Africa’s largest lithium processing plant in Nasarawa State, Bolorunduro said the project reflects Nigeria’s determination to participate in a rapidly expanding global green energy economy, one shaped by a worldwide shift away from fossil fuels that he said presents a unique opportunity for Africa, given the continent holds roughly 30 percent of the world’s remaining mineral resources, including lithium and other minerals critical to renewable energy technology.
He argued that mineral producing states should treat this global transition as a chance to expand their own economic base through responsible mining and environmental development, saying states that invest in institutional capacity, specialised training and modern mining and environmental policy will be better positioned to attract investment, support local value addition and generate sustainable economic opportunities, all without infringing on the federal government’s constitutional authority over mineral resources. Bolorunduro said sustainable mining is likely to become a major driver of subnational economic development in the decades ahead, provided individual states prepare properly for the opportunities the global energy transition is opening up.
