Nigeria dey move towards earn multi-billion dollar revenue from Lithium as UK-based Jupiter Lithium Ltd and US-based ReElement Technologies Corporation start project for lithium exploitation across 442 square kilometers of lithium-rich terrain for northern Nigeria.
President Bola Tinubu and Solid Minerals Development Minister, Dele Alake, don consistently emphasize di development of Nigeria's solid minerals sector towards accelerating national growth and economic development.
Di global price of Lithium dey around $37,000 (2022 rate), di 167,000 tons wey dem dey target for production within di first two years dey expected to yield minimum of $6.2 billion.
Under di project, wey dem dey call di Jupiter Critical Minerals Project, di two international companies and dia Nigerian partners dey commercialize major lithium deposits for Kaduna State.
Di Chairman of Jupiter Lithium Ltd, Mr. Stephen Davis, say di Jupiter Critical Minerals Project wey dem dey undertake with di support of di Federal Government dey set to become Nigeria's first large-scale lithium mine.
Him note say dia lithium deposit discovery fit transition Nigeria from oil and gas-dependent economy to one wey dey focus on clean energy.
"Di project dey expected to contribute significantly to Nigeria's economic diversification, foreign exchange generation, and local non-oil export sector," him tell reporters for Abuja on Friday.
Di Jupiter Critical Minerals Project dey develop in phases with government support, ensuring economic feasibility and long-term risk minimization.
Beyond economic benefits, di project go also enhance local infrastructure, providing access to potable water, electrification, and education scholarships for host communities.
By developing dia lithium resources, Nigeria get di potential to become key player for di global battery metals market.
Source: Prime 9ja Online Pidgin: Naija dey Road to Multi-Billion Dollar Revenue from Lithium