By Emma Ujah
President and Chairman of the Board of the African Export-Import Bank (Afreximbank), Dr. George Elombi, has tasked African nations to stop the export of Lithium, the main raw material used in the production of electric vehicle (EV) batteries. Nigeria is a major exporter of Lithium in Africa, though most of the quantity is illegally exported.
Speaking at the bank’s Mid-Year Media Roundtable in Abuja on Wednesday, he said that rather than exporting raw lithium, African countries should use it to manufacture EV batteries on the continent.
He also said Afreximbank has sufficient funds to finance the production of EV batteries and is ready to provide the necessary funding to any individual or organisation willing to venture into the industry.
In his words, “African mineral resources must work for Africa’s development. EVs are the future of transportation, and the use of lithium to produce EV batteries is taking centre stage in the EV industry.
