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HomeBusinessNigeria's NASENI seeks foreign investment in Lithium Battery Production

Nigeria’s NASENI seeks foreign investment in Lithium Battery Production

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The National Agency for Science and Engineering Infrastructure (NASENI) in Nigeria has extended an invitation to investors and international companies to collaborate in the local production and domestication of lithium batteries and other renewable energy solutions.

The Executive Vice Chairman/CEO of NASENI, Bashir Gwandu expressed the agency’s readiness to partner with companies interested in setting up industries in Nigeria to initiate local manufacturing of renewable energy solutions and components for electric vehicles.

This collaboration aims to create job opportunities and reduce Nigeria’s dependence on foreign goods that strain the country’s foreign exchange.

During a meeting with a business delegation from LEMI Technology in Shenzhen, China, held at NASENI headquarters in Abuja, Gwandu emphasized that the agency is already actively involved in solar panel production.

He stated that NASENI is seeking to attract solar cell manufacturing to enhance synergy with its existing work on solar panel assembly.

Furthermore, the agency has engaged in discussions with global companies to explore partnerships for local production of lithium-based end-products within Nigeria, moving away from the conventional practice of exporting raw materials for processing abroad.

Gwandu highlighted NASENI’s commitment to bridging technological gaps between Nigeria and other countries, reducing the importation of technologies, and promoting local production.

He also mentioned NASENI’s collaboration with the National Automotive Design and Development Council (NADDC) to encourage the development and production of electric vehicles, including the conversion of existing vehicles to electric models.

In addition, NASENI is in talks with various stakeholders to promote the installation of electric vehicle charging stations along major roads across the country.

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The NASENI CEO extended an invitation to international companies and friends of Nigeria to establish their presence and initiate local production in the country. He assured potential investors of support and a favorable investment environment.

Gwandu suggested that NASENI and LEMI Technology explore potential areas of collaboration in the production of lithium batteries while ensuring compliance with safety and environmental regulations specific to Nigeria.

LEMI Technology’s founder, Joyce Chen, expressed the company’s eagerness to partner with NASENI and invest in Nigeria, affirming their commitment to a mutually beneficial relationship with the agency and the Nigerian government.

The LEMI Technology delegation included Rocky Hu, Chief Investment Officer; Biju Yao, Chief Financial Officer; Monica Liang, Overseas Business Director; and Engineer Lucia Peng.

The Chief Executive Officer of LEMI Technology, Xie Feng, emphasized the long-standing brotherhood between Nigeria and China and highlighted Nigeria’s critical investment opportunities due to its large population.

Feng stated that LEMI Technology has been operating in the Nigerian market since 2018, providing job opportunities and supplying renewable energy products to over 200,000 Nigerian households.

NASENI, as Nigeria’s dedicated agency for capital goods research, production, and reverse engineering, focuses on various areas such as engineering materials, scientific equipment, and power equipment.

Gwandu’s initiatives include urging lithium exporters within Nigeria to consider inviting their international counterparts who manufacture lithium batteries to invest in end-product production within the country.

NASENI aims to limit the export of raw lithium and promote the processing of lithium into end-products in Nigeria. The agency believes that Nigeria, with its abundant raw materials, including phosphate, should take the lead in battery production.

NASENI extends its support to manufacturers interested in establishing their presence in Nigeria, whether in the renewable energy sector or other industries such as aerospace.

The agency aims to facilitate the transformation of raw elements into end products and encourages companies to seize the opportunity to be early movers in the Nigerian market. Notably, NASENI has engaged in discussions with suppliers to CATL and LEMI of China regarding lithium production.

The recent meeting with LEMI Technology marked the initiation of conversations on local production of various types of lithium batteries and other products in the photovoltaics value chain.

(omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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