- Chinese firms Avatar and Canmax Technologies announced a new investment of $200 million for another lithium processing plant in Nasarawa state
President Bola Tinubu says Nigeria will become the manufacturing hub for electric vehicle (EV) batteries in Africa.
Tinubu spoke on Friday during a meeting with Abdullahi Sule, governor of Nasarawa state, Hi Yongwei, chairman of Avatar New Energy Materials Company Limited, and Zhenhua Pei, chairman of Canmax Technologies, in Abuja.
Avatar, a Chinese firm, built the lithium processing plant which produces about 4,000 metric tonnes daily, while Canmax Technologies, another Chinese firm, responsible for over 30 percent of global battery material production, announced a new investment of $200 million for another lithium processing plant in Nasarawa state.
Tinubu commended the inauguration of the lithium processing plant in Lafia, Nasarawa, highlighting it as a positive sign of Nigeria’s appeal to foreign investors.
Welcoming the inauguration and the announcement of new investment plans, Tinubu told the Chinese firms to prioritise environmental protection, community engagement, and corporate social responsibility initiatives as integral parts of their operations.
“There are other aspects of lithium that you are exploring in the country, especially in battery production,” Tinubu said.
“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 can not 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.”
“Tinubu encouraged them to responsibly utilise Nigeria’s high-quality minerals, emphasising the importance of cooperating with and prioritising the welfare of the country.
“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,” he said.
“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.”
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