Nigeria’s vast lithium reserves, estimated to be worth over $34 billion, is attracting global demand.
Lithium is a key component in the production of batteries for electric vehicles (EVs) and renewable energy storage systems. Nigeria is positioning itself to become a major player in the global lithium market.
The growing interest in Nigeria’s lithium reserves comes as countries and companies worldwide scramble to secure supplies of the mineral, which is essential for powering the green energy revolution.
“Lithium is topping the charts in terms of interest, and we have seen the springing up of lithium factories in Nigeria already,” Segun Tomori, special assistant on media to Dele Alake, minister of solid minerals development, said
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Analysts predict that the global lithium market could grow exponentially over the next decade, driven by the rapid adoption of EVs and renewable energy technologies.
Data from a global Future Market Insight showed the lithium mining industry has emerged as a cornerstone of the clean energy transition, driven by the skyrocketing demand for lithium-ion batteries.
The surge in lithium demand is driven by the EV market, which accounted for over 70 percent of the global lithium consumption in 2024, according to the India-based research firm.
With countries such as the United States, China, and members of the European Union pushing for net-zero emissions by mid-century, lithium demand is expected to escalate further.
Nigeria can get into an industry still considered mainly on the ground floor. Discoveries of lithium deposits in Plateau, Oyo and Kaduna states allow the country to craft better policies than it did with other minerals like gold.
