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.
Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN), gave the commendation in a statement on Tuesday, September 20, 2022, in Lagos.
While applauding the Minister of Mines and Steel, Mr Olamilekan Adegbite, for such a bold move, he said: “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!”