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Moghalu lauds FG over condition given to Tesla to mine lithium in Nigeria


Moghalu lauds FG over condition given to Tesla to mine lithium in Nigeria

Prof. Kingsley Moghalu, a former presidential aspirant of the African Democratic Congress, (ADC), has commended the Federal Government for the condition given to a foreign firm, Elon Musk’s Tesla, before issuing a license to mine lithium in Nigeria.

Tesla (TSLA) order rate is surging in the US as gas prices are turning  people toward electric cars | Electrek

Tesla motors

Moghalu, a former deputy governor of the Central Bank of Nigeria in a statement on Tuesday in Lagos, described the Minister of Mines and Steel, Mr. Olamilekan Adegbite, as his favorite minister in the administration of President Muhammadu Buhari for such step.

“I applaud the Federal Government of Nigeria, minister of mines and steel, Olamilekan Adegbite, for reportedly declining to give Elon Musk’s Tesla a license to mine lithium in Nigeria unless the company establishes a battery manufacturing facility in Nigeria to add value to lithium products before exports.

Elon Musk cumple su palabra y empieza a vender acciones de Tesla tras la  encuesta de Twitter | Industria - ComputerHoy.com

Tesla CEO Elon Musk

“I am very excited by this decision which agrees with my policy advocacy when I ran for President in 2019 that foreign investors in our natural resources must create value addition in Nigeria, along with training facilities to give skills to our youth who will subsequently be employed in such value addition industries.

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“This is how we can create wealth and jobs on the basis of natural resources as part of a larger knowledge economy. Keep it up, Minister!” Moghalu, a political economist, said.

Moghalu was the presidential candidate of the Young Progressives Party (YPP) in the 2019 general election.

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