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Gbeminiyi Ogunleye
2 weeks ago
Overview
Electric vehicles: S’Africa eyes Nigeria’s lithium, backs bid to join G20
President Cyril Ramaphosa of South Africa has expressed interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of electric vehicles (EV) batteries.
A statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated that the South African President disclosed this on Tuesday in Cape Town, at the Nigeria -South Africa Business Roundtable.
He proposed leveraging Nigeria’s vast lithium reserves as a cornerstone for industrialisation efforts in the EV sector.
He urged the private sector and development finance institutions to collaborate in building infrastructure and scaling up manufacturing capabilities in this sector
“There is also much opportunity for cooperation on pharmaceuticals. Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.
“South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years.
“As part of the broader global transition to a low-carbon economy, we must leverage the abundant natural resources that exist in our countries to promote green industrialisation.
“We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source. We call on businesses to support and involve themselves in these initiatives,” President Ramaphosa said.
Credit: Vanguard