The Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) has signed a 150 million dollars battery manufacturing agreement with Chinese investors.
Malam Mutari Ibrahim, the Director Promotion and Outreach (PIO), REA said this in a statement issued in Abuja on Friday.
Ibrahim said that the agreement was signed with SHENZEN LEMI Technology Development Company.
He said that the agreement was signed under the leadership of the Ministry of Power and the China Ministry of Ecology and Environment as part of the takeaway by Nigeria from the COP 28 in Dubai
According to him, the partnership will facilitate the establishment of a Lithium-Ion Battery manufacturing and processing factory in Nigeria.
”The initiative which is backed by a 150 million dollars investment from LEMI is scheduled to commence in phases, starting from the 2nd quarter of 2024.
”The China Ministry of Ecology and Environment, in collaboration with the Ministry of Power expressed enthusiasm for being part of this transformative agreement.
‘The signing of the cooperation agreement is anticipated to serve as a pioneer initiative for the Light and Belt Initiative in Africa, aligning with global efforts to drive climate technology development and transfer,” he said.
Ibrahim said that the collaboration would strengthen NASENI’s mandate under the agency’s new leadership to manage the research and development of capital goods, production and reverse engineering to enhance local mass production of standard parts.
He said that the agreement would also enhance services for the nation’s technological advancement with a special focus on the electricity sector.
”Furthermore, the collaboration underscores REA’s commitment to bridging the climate technology gap and combating the adverse effects of climate change.
“It also aligns with the country’s ambitious goals of achieving universal electricity access by 2030 and netzero emissions by 2060,” he said.
Ibrahim said that the partnership was aimed at fostering the development and transfer of climate technology, promote indigenous industrialisation and facilitate commercialisation.
”Enhance public private cooperation and contribute to job creation, economic growth, and the extractive industry in the country.
”Recognising the crucial role of energy storage in the transition to renewable energy sources, the investment in Lithium-Ion energy storage manufacturing signifies a significant step towards achieving a low-carbon economy.
”Research indicates that Lithium-Ion energy storage has the potential to reduce CO2 emissions by more than 20 per cent per Kilo Watts per hour (KWh) capacity compared to traditional lead-acid technology,” he said.
According to him, REA and NASENI remain steadfast in their commitment to cultivating partnerships that accelerate clean, innovative, and sustainable energy interventions.
”it is also committed to Contributing to the global pursuit of a greener and more sustainable future,” he said.