Maske Sent Representatives To Hold Talks With Nigeria, Which Is Rich in Lithium Deposits

Tesla, owned by Musk, the world's richest man, has reportedly shown interest in signing a trade partnership with Nigeria. Tesla will import the raw materials needed to make batteries for its electric cars from Nigeria.

Tesla plans to import lithium from Nigeria. Lithium is a key component in making batteries for electric cars.

Nigeria has discovered large deposits of lithium in Kogi, Plateau, Nasarawa, Oyo, Ekiti, Cross Rivers and Kwara states.

An unnamed Tesla representative discussed a trade deal with Nigeria's Minister of Mines and Steel Development, Olamilekan Adegbite. The deal will allow Musk's company to list Nigeria as one of its market sources for lithium.

The two sides held talks during an event in Saudi Arabia, but Adegbite said the Nigerian government rejected the trade offer and instead asked Musk to build a battery factory in Nigeria that would create new markets and jobs in the country.

Adegbite announced the talks at a summit in Abuja on Thursday entitled "Harnessing Future Minerals for Sustainable Development".

Over the past few years, discussions on electric vehicles have taken shape in Nigeria, with various stakeholders showing interest.

GIG Logistics and JET Automotive have reached an agreement to launch the first electric vehicle in the country's delivery market.

由于锂需求的一半来自于global electric vehicle industry over the next 20 years, the Nigerian government believes that Tesla's battery plant in the country will put Nigeria in a better position in the global electric vehicle market.

In 2020, the global electric vehicle market was valued at $163.01 billion, but this valuation will rise significantly to $823.75 billion by 2030, while the lithium market is expected to grow from $3.64 billion in 2020 to $6.62 billion in 2028.

"Nigeria is rich in critical minerals," Adegbite said. Lithium and tantalum have been found in parts of Nigeria's vast pegmatite belt."

It is estimated that the demand for lithium will increase between 10 and 30 times by 2040.

Adegbite says: "The World Bank estimates that demand for these minerals will triple by 2040. There is no doubt about the critical minerals deployed for the clean energy transition over a long period of time."