Dele Alake, Nigeria’s Minister of Solid Minerals, yesterday Thursday, revealed that two Lithium factories are ready for take-off, in the 2nd quarter of 2025.
Alake stated this at the BusinessDay Solid Minerals Conference, with the theme: “Building a Resilient Mining Sector in Nigeria; Leveraging Diplomacy, International Partnership and Regulatory Coherence”.
Speaking on successes recorded by the current administration in the mining sector, Alake disclosed that “The two Lithium factories will be commissioned this second quester of 2025, with the first, located in Abuja, investing $700m and another one in Nasarawa, investing $600m”.
Speaking further on efforts to sanitize the Nigeria’s solid mineral sector, he said the government was strengthening efforts to encourage illegal miners legalize their operations, adding that within a year, over 250 cooperatives have been formed with about 50, coming on board monthly, to reducing illegal mining.
According to Alake, the efforts have continued to yield the much needed benefits, creating about 27000 jobs for artisanal miners, in over 90 mine sites freed by the Mining Marshalls.
He also revealed that Nigeria’s Community Development Agreement CDA, has become a toast amongst other African countries, including South Africa, who are now replicating the Nigerian model, developed by the President Bola Tinubu administration, created to benefit the host communities.
“These African countries are now replicating these plans and incorporating it into their own system”.
Alake recalled how he introduced innovative technology in advancing Nigeria’s solid minerals development.
Also speaking on the Nigeria Mining Company NMC, Alake said the company has been formed as a special purpose vehicle to drive investments in the solid minerals sector
” At the inception of this administration, we discovered that Nigeria did not have a vehicle, to help us have a slice of the Nigeria solid minerals pie, the Nigerian people did not have a stake in the sector.
He noted that the structure of the NMC will be different, based on the experience from previous government efforts at running such businesses which lacked dynamism.
According to him government business should be better managed.
He disclosed that Nigerians will get 25% investment, the Federal Government will own 25% and the private sector will hold a 50% equity in the company.
“We are recalibrating our own structure which is being put together as we speak.
“So, if the private sector is owning 50% equity, you can be rest assured that the private sector will bring its influence to ensure that the company, is run in a more effective and efficient manner. These are the functions of our regulatory framework we have injected into the economy in the past 17 months.
Alake who described exploration as an expensive business, however, commended President Tinubu for approving a huge budget for the Slid Minerals Ministry, under the 2025 budget.
“Nigeria had ignored the solid minerals sector for decades and went into consumption and importing of toothpicks and orange juice.
” We had to block the leakages and pains are associated with those policies, but the pains are not permanent. Only yesterday we signed an MoU with South Africa in promoting Nigeria’s solid mineral sector, with Nigeria becoming an indisputable solid mineral nation in Africa.”
“We have resolved that we will not license anyone without strong local value addition, which led to the formation of Africa solid Mineral group of which I was elected Chairman.”
“We are showcasing Nigeria as a strong solid mineral nation in Africa on the back of the efficacy of our own solid minerals policy.
“They are also copying Nigeria’s ASM mining policy. We are very confident that at a no distance future, we shall, begin to reap the benefit. “ he said.
Additional Source: BusinessDay
