Toba Owojaiye reporting
Benin City, Edo State
Edo State Governor, Mr. Godwin Obaseki, is leading efforts to diversify the state’s economy by tapping into its solid minerals, particularly lithium, as a new source of foreign exchange.
Truth Live News gathered that the Governor revealed this initiative during a meeting with international investors from Renera Rosatom Energy Corporation, hosted by the Edo State Ministry of Mining and Energy.
Lithium, often dubbed “white gold,” is abundant in several Nigerian states, including Nasarawa, Kogi, Kwara, Ekiti, Cross-Rivers, and notably, Edo.
During the conference, Mr. Omoruyi Ihianle, the Director of Mining in Edo State, highlighted the administration’s commitment to exploiting lithium deposits for manufacturing lithium batteries essential for Electric Vehicles (EVs).
He emphasized the establishment of a Special Purpose Vehicle (SPV), named SPV Associates Mining and Investment Company Limited, incorporated last year to oversee the mining sector’s development and ensure value for both the government and investors.
The mandate of the Ministry of Mining & Energy and the SPV is to facilitate the state’s participation in the mining industry and provide support to mining companies. Additionally, the Edo State Mining and Investment Company Ltd. (ESMIC) aims to offer services along the mineral market value chain, adhering to international best practices and promoting environmentally friendly business methods.
The commission pledges to foster collaboration among investors, companies, and miners while generating employment opportunities for local communities.
Hon. Ojiefoh Enaholo, the Edo State Commissioner for Mining and Energy, affirmed the government’s commitment to positioning Edo as a significant player in the mining sector.
Representing the international investors, Mr. Andrey Mineev, Vice President of Uranium One, expressed gratitude for the warm reception and affirmed their readiness to collaborate with the Edo State Government in exploring new partnerships.
The Hon. Ojiefoh Enaholo, Commissioner for Mining and Energy; Governor Godwin Obaseki; Vice President Andrey Mineev; Mrs. Martina Omoruyi, Permanent Secretary, Ministry of Mining and Energy; and Mr. Kirill Egorov-Kirillov all took a picture during the courtesy visit at the Government House in Benin City.