Prof. Kingsley Moghalu, former presidential aspirant of the African Democratic Congress, (ADC), has commended the Federal Government for condition given to a foreign firm, Elon Musk’s Tesla, before issuing license to mine lithium in Nigeria.
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.
“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.
“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.
The News Agency of Nigeria (NAN) reports that Moghalu was the presidential candidate of the Young Progressives Party (YPP) in the 2019 general election.