Solar panels, EV Batteries to be manufactured in Nigeria-Tinubu

Coming at this crucial time, This is a  huge investment hub for Nigeria. Nigeria’s President, Bola Ahmed Tinubu, has announced plans for the local manufacturing of solar panels and electric vehicle (EV) batteries, positioning the Nigeria as a production hub in Africa.

This declaration was made during the inauguration of Nigeria’s largest lithium processing plant in Lafia, Nasarawa State. Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity), issued a statement on Friday night, emphasizing the significance of this development as a testament to the country’s appeal for foreign investment.

Also present during President Tinubu’s announcement on Friday in Abuja were Governor Abdullahi Sule of Nasarawa State who was accompanied by Mr. Hi Yongwei, Chairman of Avatar New Energy Materials Company Limited, and Mr. Zhenhua Pei, Chairman, Canmax Technologies.

In his Inaugural Speech President Tinubu said:

”There are other aspects of lithium that we are exploring in the country, especially in battery production. 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 cannot be produced here in Nigeria. 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.

”You must not leave the community in ruins as you explore for our high-grade minerals. You must be concerned with cooperation and always care for the community.

”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. 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.

What you should know

Avatar, a prominent Chinese firm, has established a lithium processing plant in Nasarawa State, capable of producing approximately 4,000 metric tonnes of lithium daily. In addition, Canmax Technologies, another leading Chinese company renowned for its significant contribution to global battery material production, has announced plans for a new investment of $200 million to establish another lithium processing plant in the region.

President Tinubu, welcoming the inauguration of the plant and the announcement of further investment, emphasized the importance of environmental stewardship, community engagement, and corporate social responsibility for the Chinese firms. He urged them to prioritize these aspects as integral components of their operations, highlighting the potential for collaboration to promote mutual interests between China and Nigeria.

Other Key Points by President Tinubu:

”There are other aspects of lithium that you are exploring in the country, especially in battery production. 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 cannot 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.

”You must not leave the community in ruins as you explore for our high-grade minerals. You must be concerned with cooperation and always care for the community.

”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. 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.

What you should know:

Avatar, a prominent Chinese firm, has established a lithium processing plant in Nasarawa State, capable of producing approximately 4,000 metric tonnes of lithium daily. In addition, Canmax Technologies, another leading Chinese company renowned for its significant contribution to global battery material production, has announced plans for a new investment of $200 million to establish another lithium processing plant in the region.

President Tinubu, welcoming the inauguration of the plant and the announcement of further investment, emphasized the importance of environmental stewardship, community engagement, and corporate social responsibility for the Chinese firms. He urged them to prioritize these aspects as integral components of their operations, highlighting the potential for collaboration to promote mutual interests between China and Nigeria.

You can always promote the interest of China and Nigeria as the best place in Africa to do business. We are preparing to produce in this country the solar technologies that the entire continent will use,” the President said.

”It is a great joy to have you (the Chinese executives) in Nigeria. It is part of our campaign that Nigeria is open for business. We congratulate your courage in believing in us and the inauguration of the new factory.

”I can assure you that we will continue to give you the necessary support and encouragement. This is an opportunity for you to help tell the rest of the investment world that Nigeria is solid and open for business,” the President said.

Governor Sule expressed gratitude to the President for his steadfast support towards solid mineral development in Nigeria and appreciated the representation by Senate President Godswill Akpabio at the inauguration ceremony. Highlighting the significance of the newly commissioned company in Nasarawa, Governor Sule noted its substantial turnover of $500 million and emphasized its potential to extract lithium from the region for the next 15 to 20 years.

Mr. Alake, in his remarks, underscored the Ministry’s proactive efforts to address the risks associated with abandoned mines dating back to the colonial era. He outlined ongoing initiatives to repurpose these sites for constructive uses such as farming and irrigation, emphasizing the necessity for mining companies to present viable remediation plans as a prerequisite for licensing.

Furthermore, the Minister stressed the government’s commitment to promoting indigenous participation and economic empowerment within the mining sector. He highlighted the requirement for mining license applicants to demonstrate a dedication to enhancing local value throughout the mining value chain, aligning with the government’s agenda for sustainable development.

Addressing the President, the Minister expressed confidence in Nigeria’s forward trajectory under his leadership, citing policy initiatives aimed at driving progress. He reiterated a commitment to advancing the nation’s interests, proclaiming a collective determination to move “forward ever and backward never.”

Concluding the event, the Chinese executives reaffirmed their commitment to adhering to mining regulations and fulfilling corporate social responsibilities to local communities. They described their investments in Nigeria as valuable and pledged to contribute positively to the nation’s economic and social development.

Recall that the Chinese are also Pioneers and going by the common trend that Chinese companies globally including Africa will be glad to accept Pi as a means of payment in their dealings with global economic market.

Stephen Gums

AfricanParrot TV.