Mineral economics expert and financial consultant, Dr. Wale Bolorunduro, has made it clear that Nigeria’s Lithium processing revolution would help in creating new opportunities for mineral-producing states in the country.
The expert also commended the Nasarawa State Government for moving beyond the export of raw lithium ore to the processing of lithium concentrate and battery-grade lithium carbonate, describing the initiative as a major milestone in Nigeria’s industrialization and mineral value-addition agenda.
Speaking with THISDAY on Monday in Osogbo, Osun State capital, on the inauguration of West Africa’s largest lithium processing plant in Nasarawa State, Dr. Bolorunduro said the project demonstrated Nigeria’s determination to participate in the rapidly expanding global green-energy economy.
According to him, “the global shift away from fossil fuels presents a unique opportunity for Nigeria and Africa, which collectively hold about 30 percent of the world’s remaining mineral resources, including lithium and other critical minerals required for renewable energy technologies.”
He contended that mineral-producing states should see this transition as an opportunity to expand their economic base through responsible mining environmental development.
He said “States that invest in institutional capacity, specialized training and modern mining environmental policies will be better positioned to attract investment, support local value addition and create sustainable economic opportunities without undermining the constitutional powers of the federal government over mineral resources,” he said.
Bolorunduro added that sustainable mining will become a major driver of sub-national economic development over the coming decades, provided states prepare adequately for the opportunities emerging from the global energy transition.
Yinka Kolawole
