Lithium ion storage project financing options in Nigeria 2026

Why should Nigeria invest in lithium?

With strategic planning, investment, and efforts to address infrastructure deficits and regulatory bottlenecks, Nigeria can leverage its lithium deposits to drive economic growth, industrialisation, and a sustainable energy future.

Can Nigeria become a major player in lithium-ion battery production?

Nigeria faces a long journey to becoming a major player in the lithium-ion battery production industry. The entire lithium battery-grade compound production process requires significant energy resources, technological expertise, infrastructure, and essential chemical supply chains, which the country currently lacks.

Why is Nigeria pursuing a 'value addition' policy for lithium mining?

As global demand for lithium grows, Nigeria’s deposits will become increasingly valuable. To avoid past mistakes in the oil and gas sector, the Nigerian government is adopting a "value addition" policy for lithium mining, tying mining approvals to investments in midstream and downstream segments like refining, processing, and battery production.

Does Nigeria have a specialised lithium industry?

The Nigerian government has made some efforts to support mineral resource exploration and mining, such as establishing the Solid Minerals Development Fund (SMDF). However, more significant investment and infrastructure development are necessary to achieve a specialised lithium industry.

Which companies are building lithium processing plants in Nigeria?

capacity in the country. In 2023, Chinese companies Ming Xin Mineral Separation Nig Ltd (in Kaduna) and Ganfeng Lithium Industry Limited (in Nasarawa) commenced the construction of l thium processing plants. In April 2024, Nigerian Company ABSA group began the construction of a 1.6 million tons yearly lithium ore s

Where is lithium found in Nigeria?

Though lithium mining has been minimal, exploration surveys have identified significant deposits in Kwara, Ekiti, Ogun, Nasarawa, and Plateau states. As global demand for lithium grows, Nigeria’s deposits will become increasingly valuable.