Nigerian Agencies Secure $150 Million Deal for Lithium Battery Manufacturing at COP28
In a groundbreaking development at the 2023 UN Climate Change Conference, COP28, in Dubai, Nigeria’s Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) have successfully secured a momentous $150 million deal with the Chinese investor, SHENZEN LEMI Technology Development Company. This historic agreement paves the way for the establishment of a state-of-the-art Lithium-Ion Battery manufacturing and processing facility within Nigeria’s borders.
The announcement was made by Mutari Ibrahim, the Director of Promotion and Outreach at REA, in a statement released to Media Talk Africa. The signing of this landmark agreement took place on Friday, symbolizing a poignant collaboration between the Nigerian Federal Ministry of Power and the China Ministry of Ecology and Environment.
“The signing of the Cooperation Agreement is anticipated to serve as a pioneering initiative for Africa’s Light and Belt Initiative, aligning with global efforts to drive climate technology development and transfer. It also aligns with Nigeria’s ambitious goals of achieving universal electricity access by 2030 and net zero emissions by 2060,” the statement elucidated.
This monumental partnership signifies a significant stride towards combating climate change and advancing sustainable energy solutions. The adoption of Lithium-Ion energy storage is projected to usher in a substantial reduction of CO2 emissions by over 20 per cent per kWh capacity in comparison to traditional lead-acid technology.
As Nigeria strives to become a trailblazer in the realm of sustainable energy, this collaboration propels the nation towards the forefront of global innovation and environmental stewardship. The implications of this visionary accord extend beyond the confines of Nigeria, resonating with the broader imperative of climate action and renewable energy proliferation across the African continent and beyond.
The resonance of this momentous achievement reverberates across global efforts to mitigate climate change and foster green growth. It serves as a resounding testament to the vital intersection of cooperative international partnerships, sustainable technology adoption, and proactive environmental stewardship. This transformative initiative not only augurs well for Nigeria’s sustainable energy landscape but also encapsulates a paradigm shift towards a greener, more sustainable future for generations to come.
