adplus-dvertising
Business

President Tinubu performs groundbreaking for $250million lithium factory in Nasarawa

President Bola Ahmed Tinubu has performed a groundbreaking ceremony to initiate the construction of a “$250 million lithium factory in Nasarawa State.”

  • “The mega factory when completed would process 18,000 metric tons of lithium per day and 4.5 million metric tons annually.”

Inaugurating the Ganfeng Lithium Industry Limited factory in the Endo community of Udege Development Area in Nasarawa Local Government Area of the state, President Tinubu represented by the Minister of Solid Mineral Development stated,

  • “The construction of the factory project was in line with his administration’s industrialization policy directed at providing adequate energy for the country.”

He assured the President of Ganfeng Lithium Industry Limited, Pan Quen, of the Nigerian government’s support.

What the President said

  • He reiterated, “I want to congratulate this company for the feats recorded in Africa with a 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,” the Nigerian President said.

He added,

  • “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.”

President Tinubu assured that the government would put in place measures to create an enabling environment for their operation in all their establishments in the country.

  • He emphasized, “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. This bold move marks a new chapter in Nigeria’s journey towards industrialization and energy independence.”

Download NewsTimes App for breaking news and market intelligence.
play store banner     app store banner

Back to top button