President Bola Tinubu says the inauguration of Nigeria’s largest lithium processing plant in Lafia, Nasarawa State, is a clear indication of the country’s attractiveness to foreign investment.
President Tinubu said this at the presidential villa in Abuja during a meeting with 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.
President Tinubu is impressed with the establishment of a Lithium processing plant in Nasarawa state.
This is proof of foreign direct investment, and evidence that indeed Nigeria is open for business.
A Chinese firm, Avatar built a 4,000 metric tonnes daily Lithium processing plant, an investment worth 500 million dollars.
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Also, a renowned chinese firm Canmax responsible for 30 percent of global battery material production has announced a new investment of 200 million dollars for another lithium processing plant im Nasarawa state.
President Tinubu assured the investors of a friendly business climate while insisting their operations must also be favourable to Nigeria.
Minister of solid minerals says the commissioning of the largest lithium based factory in Nigeria is part of the Dividends of the Bola Tinubu administration’s deliberate policy formulation for economic growth and expansion.
He says as the world moves from fossil fuel towards green energy, Nigeria is already positioned to benefit from the green economy.
The Governor of Nasarawa state assured the President that the Chinese investors have committed to protecting the environment and adhering to mining regulations while fulfilling their corporate social responsibilities to host communities.
President Tinubu’s desire is to make Nigeria a hub for solar panels in Africa, he believes with these kind of investments and more he hopes Nigeria’s economy will be better and iivelihood of citizens improved.
