Nigeria’s Commitment to Energy Transition and Critical Minerals
The Nigerian Minister of Solid Mineral Development, Dele Alake, has proclaimed the Nigerian government’s unwavering dedication to the development of energy transition and critical minerals within the country. At the 2023 Nigeria Energy Forum Day 2, held virtually in Lagos, this statement was conveyed by Dr AbdulRazaq Garba, the Director General of Nigeria Geological Survey Agency (NGSA), on behalf of Alake.
Alake emphasized Nigeria’s abundant wealth in various types of minerals distributed across the nation. The primary objective of the current administration is to augment the mining sector’s contribution to the National Gross Domestic Product (GDP). Nigeria is primed for prospective investors, with numerous advanced exploration projects aligning with the investment standards of junior miners and other investors. The country presents opportunities in minerals such as lithium, zinc, gold, tin, bitumen, niobium, chromite, and others. Some of these minerals are integral to the production of renewable energy components such as solar panels and batteries, positioning Nigeria as a significant player in manufacturing and investments within this realm.
Jordan Lachance, the Political/Economic Officer at the United States Consulate General Lagos, underscored the impact of the transition to renewable energy sources on the global energy landscape. She acknowledged that these geopolitical trends will influence various interconnected issues, including the demand for critical minerals, the necessity for battery recycling, and the electrification of transportation. Lachance also expressed the United States’ keen interest in Nigeria’s prosperity and its significance to Africa and the world.
Caroline Emboubou, the CEO of All On, drew attention to the unique opportunity that solar energy presents in aiding Nigeria to meet its substantial unmet energy requirements. She also highlighted Nigeria’s advantageous position to leverage technological advancements in the renewable energy sector to address its energy needs through reliable, sustainable, and profitable solutions.
Dr Daniel Adeuyi, the Group Chairman of NEF, deliberated on the success of NEF 2023 Day 1 and the virtual event’s focus on Energizing Industrialization and Sustainable Growth. The event fostered collaboration among over 250 key stakeholders, culminating in investment deals valued at over 40 million USD. Additionally, he outlined the themes and workshops for NEF 2023 Day 2, which included Powering Industrialization and Methane Abatement by the US Consulate General.
Engr. Adekunle Makinde, the Co-chair of NEF 2023, expressed gratitude towards the participants and companies involved in the event, and disclosed the forthcoming awarding of cash grants valued at up to N4m to the top six Young Energy Entrepreneurs across Africa in the finals of the Africa Energy Innovation Competition.
In conclusion, the deliberations and commitments made during the 2023 Nigeria Energy Forum Day 2 epitomize Nigeria and its partners’ determination and eagerness to advance energy transition and critical minerals, thereby forwarding the global efforts for sustainable growth and development.
