Nigeria's Lithium Reserves Can Fuel Global Transition To Renewable Energy —Tinubu To Dutch PM

President Bola Tinubu

NIGERIA, with its high-grade lithium reserves, is ideally positioned, according to President Bola Tinubu, to fuel the world's transition to sustainable energy, including Europe.

According to a statement from the presidential assistant Ngelale Ajuri, Tinubu said on Thursday at a meeting with Dutch Prime Minister Mark Rutte at his official residence in The Hague.

Tinubu stated that his administration is advancing changes to improve the investment climate and that Nigeria presents enormous prospects in a variety of areas.

According to him, Nigeria is looking for partnerships that are strong, well-rounded, and mutually advantageous in order to promote value addition in sectors such as solid minerals.

“Taking a holistic view of the world order, there is a tremendous opportunity between us across trade spheres but especially in solid minerals, where we have high-grade lithium deposits that we know can power the clean energy future of the world," Tinubu said.

“There is excellent value-additive opportunity in Nigeria. The world knows us for oil. They will soon know us for greater innovative exploits in other areas.

“We have an extremely dynamic youth population in Nigeria. It is a young country. 70% of our people are under the age of 30, and when we are referring to 200 million plus citizens, it represents both a massive workforce and a massive market for Dutch and other international investors.

“If our young people know they can achieve a good future in Nigeria, they will stay home and build our nation to greatness.

“Lawful migration of trained Nigerian minds and hands will be a benefit to Europe, and irregular migration will no longer be a source of fear in Europe if we partner effectively.

“This is what we want and it is why we are adamant about providing student loans and new credit opportunities to not only enhance the skills of our people but also to ensure that they can access a higher quality of life within their legitimate incomes.

“We will transform our economy, and our young people will be the reason why.”

In response, Rutte stated that foreign investors now have more faith in the Nigerian economy as a result of Tinubu's economic reforms.

He stated that during the next four months, another $250 million worth of fresh investments, including a $100 million investment in a waste-to-wealth industrial complex in Lagos state, had been activated by Dutch investors.

The prime minister said: “You are promoting democratic governance and the solutions it can bring in dealing with problems of development.

“I saw you take the courageous decision to deal with fuel subsidies and other reforms, and we are interested in what allowed you to take the decisions that many before you could not take.

“And you took those decisions early in your term. It shows rare determination and your stand in ECOWAS, all of these point to your commitment in leadership.”

In addition, Tinubu pledged to strengthen the alliance between Nigeria and the European Union (EU), stating that mutually beneficial and sustainable economic relationships continue to be the most effective long-term route to success.