REA and NASENI Secure $150 Million Lithium Battery Manufacturing Deal with Chinese Investor

• REA and NASENI sign agreement with Chinese investor LEMI for a Lithium-Ion Battery manufacturing and processing factory in Nigeria
• $150 million investment from LEMI supports the initiative, contributing to Nigeria’s goals of universal electricity access and net-zero emissions

The Rural Electrification Agency (REA) of Nigeria and the National Agency for Science and Engineering Infrastructure (NASENI) have signed a groundbreaking Cooperation Agreement with SHENZEN LEMI Technology Development Company, a Chinese investor, marking a significant step in global efforts towards sustainable energy practices. The agreement, signed under the leadership of the Ministry of Power and the China Ministry of Ecology and Environment, aims to establish a Lithium-Ion Battery manufacturing and processing factory in Nigeria.

The partnership, backed by a $150 million investment from LEMI, is set to commence operations in phases, starting from the 2nd quarter of 2024. The Chinese Ministry of Ecology and Environment, in collaboration with the Federal Ministry of Power in Nigeria, expressed enthusiasm for being part of this transformative agreement, which is expected to be a pioneering initiative for the Light in Africa, aligning with global efforts to drive climate technology development and transfer.

This collaboration will strengthen NASENI’s mandate under the Agency’s new leadership to manage research and development of capital goods, production, and reverse engineering to enhance local mass production of standard parts and services, focusing on the Nigerian Electricity Sector.

The partnership underscores REA’s commitment to bridging the climate technology gap, and combating the adverse effects of climate change, and aligns with Nigeria’s ambitious goals of achieving universal electricity access by 2030 and net-zero emissions by 2060.

The collaboration aims to foster the development and transfer of climate technology, promote indigenous industrialization, facilitate commercialization, enhance public-private cooperation, and contribute to job creation, economic growth, and the extractive industry in Nigeria.