The CEO of Oba of All Trades Ltd, . Umar Adelodun, has emphasised that Africa’s rich mineral resources place it at the forefront of the global energy transition. Speaking on the investment potential of lithium, he noted:
“For the world to achieve energy transition, which every government and continent is currently racing towards, we will need approximately $10 trillion worth of metals. Africa is sitting on about 40% of the world’s untapped mineral resources, meaning at least $4 trillion of this must come from Africa.”
On whether lithium is a viable investment, he was unequivocal:
“Is lithium a good investment? Absolutely. There is an undeniable demand-supply gap, and lithium is leading the critical energy metals race. Investors and financial institutions should look at various segments of the value chain, from extraction to refining, manufacturing, and distribution.”
Adelodun also highlighted the importance of structuring Nigeria’s mining sector, particularly regarding artisanal mining. Addressing concerns about illegal mining, he clarified:
“Who do we refer to as illegal miners? The artisanal miners working within their communities, or the powerful groups smuggling minerals out of the country? Instead of clamping down, we should organise artisanal miners into cooperatives, provide them with resources, and create buying centres to ensure local beneficiation.”
On challenges such as regulatory frameworks, power shortages, and insecurity, he remained pragmatic:
“It’s not a question of ‘if’ but ‘how well’ we position ourselves. Despite these challenges, the lithium market will take off, and Africa must ensure it is not left behind.”
