17 States' Golden Opportunity: Lithium Billion Dollar Industry in Nigeria


Introduction

Lithium is a light, silvery-white metal that is essential for the production of batteries. It is also used in a variety of other applications, such as glass, ceramics, and lubricants. Nigeria is a potential major producer of lithium, with significant deposits found in several states.

Global Lithium Statistics

The global demand for lithium is expected to grow rapidly in the coming years, due to the increasing use of electric vehicles and other battery-powered devices. The following are some statistical figures of lithium around the world:

,1. The global lithium market is expected to reach[b] $21.7 billion by 2028[/b].
2. The demand for lithium is expected to grow at a compound annual growth rate (CAGR) of 17.2% from 2022 to 2028.
3. The top countries that are high consumers of lithium are China, the United States, and Europe.
4. The average price of lithium carbonate has increased from $8,000 per tonne in 2017 to $50,000 per tonne in 2022.

Price Increase in the Last 5 Years and Future Price Projection

The price of lithium has increased significantly in the last 5 years. This is due to a number of factors, including the increasing demand for lithium-ion batteries, the limited supply of lithium, and the geopolitical risks associated with lithium mining. The future price of lithium is projected to remain high, due to the continued growth in demand for lithium-ion batteries.

How to Harness the Opportunity

Nigeria has a golden opportunity to harness the potential of its lithium resources. The government can develop a 5-year plan to develop the lithium industry in Nigeria. This plan should include the following:

1. Investing in exploration and mining.

2. Building infrastructure to support the mining industry.

3. Developing a value chain for lithium products.

4. Promoting the export of lithium products.

5. Encouraging local research and development.
Nigeria has a strong pool of scientific talent, and the government can encourage them to focus on research and development related to lithium mining and battery technology. This will help Nigeria to develop its own expertise in this field and to reduce its reliance on foreign technology.

6. Establishing a lithium institute.
The government can establish a lithium institute to promote research and development, training, and public awareness about lithium mining and battery technology. This institute could also help to coordinate the activities of different stakeholders in the lithium industry.

7. Creating a favorable investment climate. The government can create a favorable investment climate for lithium mining by providing tax breaks, subsidies, and other incentives to investors. This will help to attract foreign investment and to create jobs in the lithium industry.

8. Protecting the environment
.The government must take steps to protect the environment during lithium mining and processing. This includes ensuring that mining operations are conducted in a sustainable manner and that the waste products are properly disposed of.

9. Building public support. The government must build public support for lithium mining by educating the public about the benefits of the industry and by addressing any concerns that people may have. This will help to ensure that the lithium industry is developed in a responsible manner.

10. Partnering with international organizations. The government can partner with international organizations, such as the United Nations and the World Bank, to develop the lithium industry in Nigeria. These organizations can provide technical assistance, financial support, and other resources that can help Nigeria to develop its lithium resources in a sustainable and equitable manner.


Top States in Nigeria with Lithium Deposits

The following are the top 17 states in Nigeria with lithium deposits:

1. Nasarawa
2. Kwara
3. Kogi
4. Ekiti
5. Oyo
6. Katsina
7. Taraba
8. Zamfara
9. Kebbi
10. Niger
11. Kaduna
12. Osun
13. Plateau
14. Borno
15. Yobe
16. Ondo
17.Adamawa

The lithium deposits in these states are found in pegmatites, which are coarse-grained igneous rocks that are typically associated with granite. The pegmatites in these states contain high concentrations of lithium, making them a potential source of battery-grade lithium.

Conclusion
These are just some of the ways that Nigeria can harness the opportunity of lithium
Nigeria has a significant potential to become a major player in the global lithium market. By developing a 5-year plan to develop the lithium industry in Nigeria, the government can create jobs and economic growth for its citizens.


Written by Comrade Ibrahim Aliyu
Comradeibrahimaliyu@gmaildotcom
Abuja

Nice presentation. You might want to contact the new Minister of Solid Minerals for discussions on how to leverage on this.

These officials of ours would rather smuggle the minerals for their personal gains. The reason they commit all sort of atrocities to attain a political position. Classless people parading as politicians!

As long as Nigeria doesn't get rid of corruption, it will just be a failure like with oil.