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Nasarawa State is 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 factory is a 4,000 tonne daily facility that will attract investors and create jobs.
  • The state governor said the project will establish the state as one of the hubs for lithium processing in the country

Legit.ng’s Pascal Oparada has been reporting on technology, energy, stocks, investments and the economy for more than a decade.

The Federal Government will in May commission Nigeria’s first and largest lithium processing plant, which produces about 4,000 tonnes daily in Nasarawa State.

The Governor of Nasarawa State, Abdullahi Sule, disclosed this while briefing journalists in Abuja on the upcoming Nasarawa Investment Summit (NIS) 2024, scheduled to hold from May 15 to 16 in Lafia, the state capital.

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Lithium Process Plant, Nasrawa State
Governor Sule and Participants of the Investment Summit Credit: Nasarawa State
Source: Facebook

FG will collaborate with Nasarawa State

Governor Sule, who said he had already met with the Minister of Solid Minerals, Mr Dele Alake, on the commissioning of the lithium processing plant, added that the people of the state would benefit from the industrial revolution in the state.

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He said:

“I met the Honorable Minister Dele Alake at the Ministry of Solid Minerals. The invitation was for him to agree to the commissioning of the first and largest lithium processing plant we will have in Nigeria, which will produce 4,000 tonnes per day, which is coming. in May in Nasarawa.

“Industrialization plays an important role in economic development, creating employment and improving the quality of life of citizens. These are areas of focus for us in Nasarawa State.

Sule said the government and the Nigerian government have met over potential foreign partners interested in investing in the factory, stating that a Russian delegation also visited the state.

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State to establish an investment agency

According to the governor, the state will create an agency to oversee the many signed agreements that need to be implemented.

Likewise, during this summit in 2024, we will establish an agency to carry out such activities. And I’m glad that one of the roundtable topics will be energy and focus, and that’s where the GACN comes in.

He said Nigeria is mainly seen 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. Just to put it to the site, one of the reasons why all drilling aspects have not been completed to date is that they encountered gas too early during the operation in Nasarawa State.

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“I have followed this closely and want to ensure that it is completed as quickly as possible. They came into contact with gas too early, so they had to do what we call importing water to continue the operation. So that is how blessed Nigeria is and in this case, Nasarawa State,” he said.

He said the state government will work with interested investors to promote the lithium industry in the state and expedite the construction of the lithium processing plant.

According to the Governor, the expected outcomes of the 2024 summit will be intense investment opportunities in the state,

1000 people to participate in the investment summit

On his part, Ibrahim Abubakar, Managing Director, Nasarawa State Investment and Development Agency (NASIDA), said the 2024 summit would build on the achievements of the 2022 edition.

He noted that the first edition of the program attracted approximately 1,000 participants and secured US$500 million in investment commitments to expand investment opportunities, strengthen public-private partnerships, promote infrastructure development, promote capacity building and sustainable, inclusive growth promote.

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Abubakar said the agency had enjoyed strong support from the governor in his achievements over the years, adding that it would continue to explore such encouragement from the executive.

He said the summit would include stakeholders from government, development partners and national and international investors.

FG announces the addition of more than one billion barrels of crude oil

Legit.ng reported that the Nigerian Upstream Petroleum and Regulatory Commission (NUPRC) on Monday, April 15, 2024, announced that Nigeria’s hydrocarbon reserves increased by 1.087 billion barrels and gas reserves increased by about 2.57 trillion cubic feet.

Nigeria now has approximately 37.5 billion crude oil reserves, with a total gas reserve of 209.26 trillion cubic feet.

The CEO of NUPRC, Gbenga Komolafe, disclosed this at an event, explaining that the reserves lives are also 68.01 years and 97.99 years for oil and gas respectively.

Source: Legit.ng