Volsus Energy Limited (VESL)

Understanding the Global Lithium Market

Lithium, known as the “white gold” of the 21st century, has become central to renewable energy transitions worldwide. It is essential for battery manufacturing in electric vehicles (EVs), smartphones, and solar power systems.

Tomiwa Bayo-Ojo, the Managing Director of Volsus Energy Limited, discusses the potential of lithium mining and how Nigeria can gain economically.

Nigeria’s Lithium Reserves: Untapped Potential

Nigeria is rich in oil and natural gas, yet lithium offers new economic opportunities. With substantial lithium deposits in Nasarawa, Kogi, Kwara, Ekiti, and Cross River, Nigeria can diversify its mineral resource economy.

Opportunities for Energy Access and Job Creation

Lithium batteries are crucial for renewable energy. They offer longer lifespans and cost advantages. By developing lithium battery manufacturing locally, Nigeria can improve energy access and stimulate job creation.

Government Initiatives and Economic Impact

Recent governmental efforts, including Nigeria’s largest lithium processing plant in Nasarawa State, aim to develop this sector. These projects can significantly influence Nigeria’s economy if managed effectively.

Policy Initiatives to Foster Lithium Mining

To attract investment, federal policies must ease documentation for investors, offering incentives like tax holidays and reduced export fees. Streamlined processes will encourage firms to establish lithium processing facilities in Nigeria.

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