Nasarawa State Set to Commission Nigeria's Largest Lithium Processing Plant
- The Nigerian government is set to commission Nigeria’s first and largest Lithium processing plant in Nasarawa State
- The state governor, Abdullahi Sule, said the plant is a 4,000 metric tons daily facility, which will attract investors and create jobs
- The state governor said the project will set the state up as one of the hubs for Lithium processing in the country
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The federal government will, in May, commission Nigeria’s first and largest lithium processing plant, which produces about 4000 metric tonnes daily in Nasarawa state.
The Nasarawa state Governor, Abdullahi Sule, disclosed this while briefing journalists in Abuja on the forthcoming Nasarawa Investment Summit (NIS) 2024, which will be held from May 15 to May 16 in Lafia, the state capital.
Source: Facebook
FG to partner with Nasarawa state
Governor Sule, who said that he had already met with the Minister of Solid Minerals, Mr Dele Alake, about the commissioning of the Lithium Processing Plant, added that the state's residents would benefit from its industrial revolution in the state.
He said:
“ I wamet the Honourable Minister Dele Alake at the Ministry of Solid MineralsThe invitation was for him to agree on the commissioning of the first and largest lithium processing plant we will have in Nigeria, which will produce 4000 metric tonnes a day, which is coming up in May in Nasarawa.
“Industrialization plays a significant role in economic development, creating employment opportunities, and improving citizens' quality of life. These are areas of focus for us in Nasarawa state.
Sule said the government and the Nigerian government met over potential foreign partners interested in investing in the plant, stating that a Russian delegation also visited the state.
State to create a bureau for investment
According to the governor, the state will create a bureau to oversee the many signed deals that need implementation.
Similarly, at this 2024 summit, we will create a bureau to carry out such activity. And I’m happy that one of the roundtable issues will be energy and focus, and that’s where the GACN comes in handy.
He said Nigeria is perceived mainly as a country with significant oil and gas reserves, stating that the government has more gas than oil.
“The country has over 200 trillion standard cubic feet of gas reserves. And yet, 40 billion barrels of oil. What that means is that Nasarawa is also just coming up. Just for the site talks of it, one of the reasons why all the drilling aspects have not been completed until now is because they came across gas too early during the operation in Nasarawa state.
“I have been following that well and want to ensure it’s completed as soon as possible. They came across gas too early, so they had to do what we call the importation of water for them to continue with the operation. So that’s how blessed Nigeria is and indeed Nasarawa state in this case,” he said.
He said that the state government will partner with interested investors to promote the Lithium industry in the state and hasten the construction of the Lithium processing plant.
Per the governor, the expected outcomes of the summit for 2024 will be intense investment opportunities in the state,
1000 people to participate in the investment summit
On his part, Ibrahim Abubakar, Managing Director of the Nasarawa State Investment and Development Agency (NASIDA), said that the 2024 summit would build on the gains of the 2022 edition.
He noted that the programme’s inaugural edition drew approximately 1,000 participants and garnered $500 million in investment pledges to bolster investment opportunities, fortify public-private partnerships, advance infrastructure development, foster capacity building, and promote sustainable, inclusive growth.
Abubakar said that the agency had enjoyed the governor's strong support in its achievements over the years, adding that it would continue exploring such executive encouragement.
He said the summit would include government stakeholders, development partners, and national and international investors.
FG announces addition of over one billion barrels of crude oil
Legit.ng reported that the Nigerian Upstream Petroleum and Regulatory Commission (NUPRC) announced on Monday, April 15, 2024, that Nigeria’s hydrocarbon reserves have jumped by 1.087 billion barrels, and gas reserves have increased by about 2.57 trillion cubic feet.
Nigeria now boasts about 37.5 billion crude oil reserves, with a total gas resource of 209.26 trillion cubic feet.
The chief executive of NUPRC, Gbenga Komolafe, announced this during an event and explained that the reserves' lives also stand at 68.01 years and 97.99 years for oil and gas, respectively.
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Source: Legit.ng
