Business a.m
The Nigerian government has invited Qatari investors to explore the country’s lithium potential, as shown by comprehensive data on its reserves available at the Nigerian Geological Survey Agency.
Dele Alake, Nigeria’s minister of solid minerals development, made the offer in Doha, Qatar, while meeting with Qatari businessmen on the sidelines of President Bola Tinubu’s visit to the country.
Alake is a part of the delegation that accompanied President Tinubu to Doha, Qatar, with the aim of strengthening cooperation between the two nations in various sectors, including economic development. The visit was expected to open up new opportunities for collaboration between Nigeria and Qatar, especially in the energy and mining sectors.
While responding to inquiries about the quality of Nigerian lithium made by Qatari business mogul, Sheikh Shahid Jawad, during a meeting held at the prestigious Sheraton Doha, Alake said that Nigerian lithium is of high quality, meeting international standards.
The minister, in a statement made available by Kehinde Bamigbetan, his special adviser, disclosed that mineral exploration efforts, undertaken by the federal government, have identified locations with commercial quantities of lithium in high grades. He noted that these findings point to a significant potential for lithium mining and processing in Nigeria, with the potential to generate jobs and generate revenue for the country. He added that the information was available to help businessmen in Qatar, interested in establishing lithium companies in Nigeria.
When asked about the quality of lithium in Nigeria, Alake recalled a visit to Australia, where samples of rock composites from Nigeria were tested in a laboratory and found to contain high-grade lithium. He added that the results of the analysis showed that the lithium in Nigeria is of the same or better quality than lithium from other parts of the world.
“It shows that the quality of Nigerian lithium has been recognised by the global mining sector,” he added.
Alake stated that the Nigerian government has put in place investor-friendly policies to encourage and facilitate businesses in the lithium sector. He mentioned some of these policies, including tax incentives, streamlined licensing procedures, and a one-stop shop for investors. He further explained that the government is also working on improving infrastructure and providing technical assistance to investors in the lithium sector.
Corroborating the minister’s statement, Fatimah Shinkafi, the executive secretary of the solid minerals development fund, urged investors at the event to explore opportunities in mining infrastructure. She noted that the Nigerian government is committed to developing the country’s mining infrastructure, including roads, rail, and ports. She added that the government is also working on improving access to electricity and water, which are critical for mining operations. The executive secretary encouraged investors to take advantage of these opportunities and partner with the government to develop the sector.
Shinkafi drew on the example of Vale, a mining company in Brazil, which invested in trains to transport minerals from mines to processing towns. She said that the Nigerian government is committed to making similar investments in transportation infrastructure to facilitate the mining sector. She noted that this would reduce the cost of doing business, as well as make the sector more attractive to investors.
While acknowledging the government’s role in providing transportation infrastructure, Shinkafi stressed that mining companies should also recognise the importance of transportation to their future cost control. She encouraged mining companies to invest in their own transportation infrastructure, such as rail lines, to supplement the government’s efforts.
