Lithium Ion Battery Production in Nigeria: Issues and Challenges

Abstract

The worldwide lithium battery market is expected to grow by a factor of 5 to 10 in the next decade. In response to this projected vast increase in market demand, the federal government in some advanced countries like the US, has outlined a national blueprint to guide investments in the urgent development of a domestic lithium-battery manufacturing value chain. The benefits derivable from these efforts include equitable clean-energy manufacturing jobs, a clean-energy economy and the mitigation of climate change impacts. This paper examines the Nigeria’s potentials for Lithium ion Battery development and the challenges stopping the country from tapping into these potentials and the benefits thereof. It focuses on current market factors that impact lithium ion battery development in Nigeria, evaluates market deterrents to widespread usage, and looked into possible scenarios on how the battery market in Nigeria could develop going forward. However, this growth will depend on strong supply chains, which rely on a secure and sustainable supply of raw minerals and metals most of which are in large supply in Nigeria but are grossly underutilized.