In a significant move towards climate action, Nigeria and China have signed a groundbreaking cooperation agreement for the construction of a $150 million lithium-ion battery manufacturing plant in Nigeria. The agreement was supervised by the Federal Ministry of Power in Nigeria and the China Ministry of Ecology and Environment at the United Nations Climate Conference (COP28) in Dubai.
The Rural Electrification Agency of Nigeria and the National Agency for Science and Engineering Infrastructure played crucial roles in the agreement with the SHENZEN LEMI Technology Development Company. The Chinese firm will invest $150 million in the lithium-ion battery manufacturing and processing factory in Nigeria, with operations scheduled to commence in phases starting from the second quarter of 2024.
The collaboration, seen as a pioneer initiative for the Light and Belt Initiative in Africa, aligns with global efforts to drive climate technology development and transfer. It reflects Nigeria’s commitment to achieving universal electricity access by 2030 and net-zero emissions by 2060.
The partnership is expected to strengthen the National Agency for Science and Engineering Infrastructure’s (NASENI) mandate in managing research and development for technological advancement in Nigeria’s electricity sector. Additionally, the collaboration aims to foster the development and transfer of climate technology, promote indigenous industrialization, and contribute to job creation and economic growth in Nigeria.
Recognizing the vital role of energy storage in transitioning to renewable energy sources, the investment in lithium-ion energy storage manufacturing represents a significant step towards achieving a low-carbon economy. The partnership underscores both countries’ commitment to combating the adverse effects of climate change and bridging the climate technology gap.
