Alake, UK Deputy Prime Minister Discuss Lithium Investment In London Meeting

The minister of Solid Minerals Development, Dr Oladele Alake and British deputy prime minister, Oliver Dowden have held a business meeting in London on the subject of comprehensive investment in Nigeria’s lithium value chain.

Mr Dowden, who hosted the meeting, chairs the British National Economic Security Council which is interested in partnering with Nigeria on energy minerals such as lithium.

He said the meeting was to kick-off discussion between both countries and that officials of the Department of Trade and investors would sit down to work out the details of the partnership.

According to a statement by Kehinde Bamigbetan, special adviser to the minister, Dowden urged Dr Alake to convey his pleasure to welcome President Tinubu to the African Summit scheduled to take place next year.

In his remarks, Alake said Nigeria has large deposits of minerals and is ready to partner with investors from the United Kingdom adding that President Tinubu as the chief marketer of Nigeria’s investment drive would consider the invitation positively.

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He announced that the administration of President Tinubu had introduced value addition as a priority policy in the sector.

“Our new policy places emphasis on local value addition rather than the export of raw minerals so that the value of our mineral products can increase,” noting that Nigeria and Britain have a long history.

“If Nigeria is not doing well, Britain should be concerned and if Nigeria is doing well, Britain can benefit from the opportunities,” he told Dowden.

In his response, Deputy Prime Minister Oliver Dowden commended the government for the policy on value addition, adding that it would create more economic opportunities for partnership between both countries.

Founder and partner of Carousel Bio-Energy, promoters of the project, Jafar Hilali, briefed the meeting on his firm’s plans to intervene at every stage of the lithium value chain leading to the establishment of a lithium battery production factory.