News
Reps Urge Creation of Lithium Industry Roadmap
By Gloria Ikibah
The House of Representatives wants a comprehensive roadmap to develop Nigeria’s lithium mining infrastructure, as its emphasised the need for clear regulatory and legal frameworks to establish a strong lithium value chain policy, linking mining approvals to investments in downstream and midstream segments.
The House also urged the Ministry of Solid Minerals Development to set up the Nigerian Lithium Production Agency, as outlined in Part II, Section 4(P) of the Nigerian Minerals and Mining Act 2007. This agency would oversee the creation of a vertically integrated lithium industry.
Additionally, the House called for increased funding for the Nigerian Geological Survey Agency (NGSA). This would enable detailed mapping and high-resolution surveys to determine Nigeria’s lithium deposit potential accurately.
These recommendations was sequel to the adoption of a motionton the, “Need to Upscale the Lithium Industry and Value Chain as a Catalyst to Drive Energy Sufficiency and Economic Growth”, by Rep. Victor Obuzor, on Wednesday at plenary.
Rep. Obuzor highlighted that Nigeria possesses vast mineral resources, including lithium, but the mining sector remains underdeveloped. “Mining contributed significantly to the economy in the early 1900s, peaking in the 1950s at about 4–5% of GDP. Today, it contributes less than 0.8%,” he noted.
He explained that lithium, a key component in energy-dense batteries used for clean energy solutions, is essential for global energy transition. “These batteries store more energy per volume, making them ideal for portable devices and grid storage,” he said.
The House observed that while exploration under the National Integrated Mineral Exploration Project (NIMEP) has uncovered significant lithium-bearing minerals in states like Nasarawa, Kogi, Ekiti, and Plateau, there is still no clear estimate of the country’s reserves.
“It is concerning that despite a $700 billion mining potential, lithium exploration in Nigeria is poorly funded. Challenges in project design and implementation have hindered progress,” they added.
The House noted that the price of high-quality lithium carbonate has surged, from $5,180 in 2010 to $46,000 in 2023, making previously overlooked deposits profitable. With global demand expected to rise 13 times by 2040, Nigeria risks repeating past mistakes in the oil and gas sector by focusing solely on upstream operations and neglecting downstream opportunities.
According to the NGSA, some exploratory samples in Nigeria showed up to 13% lithium oxide content—far higher than the global average of 1–2%. However, the Solid Minerals Development Fund (SMDF), created to encourage private sector investments in mining, has yet to make significant investments in lithium mining.
The House emphasized the urgent need to harness this potential for economic growth and energy security.
News
Netizens Slam Lawmakers As They Sing Tinubu’s Anthem At Budget Presentation
Netizens slam lawmakers after they were sighted singing “On Your Mandate We Shall Stand” as President Bola Ahmed Tinubu took the stage to present the 2025 national budget.
The incident, which is in a viral video clip, showed the lawmakers singing the song, which has become synonymous with Tinubu’s political supporters.
The gesture, however, has ignited outrage among Nigerians, who questioned its appropriateness in light of the country’s current economic challenges.
Many critics took to social media to express their disappointment, describing the act as insensitive and unprofessional. They argued that lawmakers should focus on addressing pressing national issues, such as a inflation, unemployment, and hardship, rather than engaging in political theatrics with Tinubu during a crucial budget session.
“What kind of leadership did we vote for? Instead of scrutinizing the budget and ensuring accountability, they’re busy singing praises,” one commenter wrote.
Others questioned the mandate the lawmakers you were celebrating, with some accusing them of being disconnected from the realities faced by ordinary Nigerians. “What mandate are they standing on when the citizens are struggling to make ends meet?” another critic remarked.
The 2025 budget presentation, meant to outline the government’s financial plans and priorities for the year, has now been overshadowed by this controversy, with many calling for lawmakers to prioritize governance over partisan loyalty.
Read some netizens’ reactions as lawmakers sings for Tinubu during budget presentation;
@emeka: This is really problematic 🤣🤣
@agwai: This is the reason the president don’t do well in Nigeria because the people around him feed him with lies. And praise him when things is not good. Just clapping
@abyusuf: The lawmaker’s rendition of “On Your Mandate” should serve as a wake-up call, reminding us that it’s time to take a closer look at the people we’ve elected to represent us.
@danleety: I now believe there’s serious disconnect between the lawmakers and their constituents.
News
Tax Reforms: Those criticising it lack knowledge -Akpabio
The Senate President, Godswill Akpabio, has flayed critics of President Bola Tinubu’s tax reforms as lacking an understanding of what the initiatives were truly about.
Akpabio disclosed this during his remarks at the presentation of the 2025 budget estimate by President Tinubu to a joint session of the National Assembly on Wednesday.
He said, “Your Excellency, we commend you on your groundbreaking tax reform initiative. The four tax reform bills—the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and Nigeria Tax Bill, 2024—represent a monumental shift in our fiscal landscape.
It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully. This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.
“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”
News
Tinubu presents N47.9trn 2025 Resurrection Budget
Defence and insecurity , infrastructure, health and education were some of the sectors with high allocations in the N47.9tn Budget Proposal presented by President Bola Tinubu before a joint session of the National Assembly on Wednesday afternoon.
“It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of the National Assembly of Nigeria titled, ‘The Resurrection Budget’ security peace, building prosperity,” Tinubu said as he concluded his 30-minute speech at 1:10pm on Wednesday.
Earlier in his presentation, the President listed some of the highlights of the budget as defence and security – N4.91tn, infrastructure – N4.06tn, health – N2.4tn, education – N3.5tn, among others.
He expressed commitment to economic renewal, thanking all Nigerians for embarking on the journey of reform and transformation in the last 18 months together.
The President said the economy is responding to stimulus and that his government would continue to take the right steps for economic progress. “The reforms yielding results, no reversals,” he said.
Tinubu stressed that food security is non-negotiable, adding that the government is taking steps to ensure Nigerians feed and not go to bed hungry.
Tinubu said, “Our 2025 is not just another statement of projected government revenue and expenditure; it is one that calls for action.
It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully. This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.
“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”
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