In a groundbreaking move towards sustainable energy and climate action, Nigeria has forged a transformative Cooperation Agreement at COP 28 in Dubai.
The pact involves the Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) partnering with the SHENZEN LEMI Technology Development Company to establish a Lithium-Ion Battery manufacturing and processing factory within the country.
With an investment of US$150 million from LEMI, the factory’s phased operations are set to commence in the second quarter of 2024.
Officials from both nations expressed their enthusiasm for this collaborative venture, highlighting its potential to pave the way for the Light and Belt Initiative in Africa.
Experts say the agreement aligns with global efforts to advance climate technology development and transfer, signalling a significant leap forward in Nigeria’s energy landscape.
”The partnership empowers NASENI to reinforce its mandate, focusing on research and development in capital goods, production, reverse engineering, and bolstering local mass production of standard parts and services.
”With a particular emphasis on technological advancements within Nigeria’s Electricity Sector, the initiative promises to reshape the nation’s energy infrastructure,” a statement from the federal government noted.
