From Yahoo Finance: 2025-05-27 05:33:00

Nigeria is set to open two lithium processing plants this year with Chinese backing, marking a shift towards boosting domestic value and economic growth. A $600 million plant near the Kaduna-Niger border is set to launch this quarter, while a $200 million refinery near Abuja is nearing completion. Plans for two more plants in Nasarawa state are in the works. Chinese companies are major investors, aiming to create jobs, advance technology, and spur manufacturing. This move aligns with Nigeria’s strategy to leverage its mineral wealth for economic development, following a 2022 study identifying high-grade lithium deposits.



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