Months after U.S. listed Nigeria as emerging lithium source, Chinese-backed firm targets country’s projects with 240,000-tonne trial mine

Australian-listed Chariot Corporation said it has signed a term sheet with China-based C&D Logistics and ZhongNuo Advanced Materials for a direct shipping ore (DSO) lithium operation in Nigeria. The proposed project is expected to begin with a trial mining operation targeting up to 240,000 tonnes of lithium ore.

The proposed Chinese-backed operation builds on Chariot Corporation's expanding Nigerian project portfolio.

In July, Nigeria's Mining Cadastre Office approved the transfer of additional exploration licences to Chariot as part of its acquisition of an 11-mineral-title portfolio from Continental Lithium Limited.

The approvals strengthened Chariot's position in Nigeria's lithium sector and provided the project portfolio that now underpins its proposed partnership with China-based C&D Logistics and ZhongNuo Advanced Materials.

Under the new term sheet, the partners are targeting a direct shipping ore operation that could begin with a trial mining programme producing up to 240,000 tonnes of lithium ore.

The agreement highlights growing interest in Nigeria’s lithium resources at a time when the mineral has become strategically important to major economies because of its use in rechargeable batteries, electric vehicles and energy-storage systems.

The proposed deal comes as Nigeria seeks to establish itself as a significant player in Africa’s lithium industry and capture more value from its mineral resources.

Nigeria is not yet among Africa’s largest lithium producers, but growing exploration and processing investments are rapidly expanding its position in the sector.

In July, President Bola Tinubu commissioned a 6,000-tonne-per-day lithium processing plant in Nasarawa State, built by Chinese firm Diamond New Energy. The $250 million facility was described by Nigeria’s government as Africa’s largest lithium processing plant.

The country is also part of a growing pipeline of lithium projects identified by the US Geological Survey, although several remain at different stages of development and should not be confused with current commercial production.

Nigeria emerges on the global lithium map

The US Geological Survey’s annual Mineral Commodity Summaries (MCS), published in May 2026, lists Nigeria among countries where mineral-based lithium projects are at various stages of exploration and development.

The report places Nigeria within a wider group of emerging sources as technology companies seek to secure more reliable and diversified lithium supplies.

The USGS says lithium supply security has become a priority for technology companies in North America, Europe and Asia, with strategic alliances and joint ventures increasingly being used to secure access to the mineral and reduce supply-chain vulnerabilities.

Lithium is also classified as a critical mineral by the United States, reflecting its importance to the US economy and national security and the vulnerability of its supply chain to disruption. The mineral is essential to rechargeable batteries used in electric vehicles, energy-storage systems and consumer electronics.

This makes the Nigerian projects identified by the USGS part of a broader global effort to develop and diversify future lithium supply, even as Chinese-backed companies continue to expand their presence in Nigeria’s emerging lithium industry.

That strategic importance is driving a broader global push to diversify lithium supplies. The USGS estimates that batteries accounted for 88% of global lithium use in 2025, driven by electric vehicles, grid-scale energy storage and portable electronics. Global lithium consumption reached an estimated 263,000 tonnes in 2025, up 20% from the previous year.

The agency projects that global lithium production capacity could nearly double between 2025 and 2029 as producers respond to rising demand and concerns over supply security. The expected expansion of electric vehicles and renewable-energy storage is intensifying competition to secure new sources of the mineral.

Against this backdrop, the agreement involving Chariot places Nigeria within the broader race to secure future lithium supplies for the global energy transition.

For China, the move further reinforces its established position in the global lithium supply chain. C&D and ZhongNuo are expected to provide logistics, marketing and technical support for the Nigerian project, while Chariot will contribute its local project portfolio.

Nigeria has increasingly promoted lithium and other critical minerals as part of efforts to diversify its economy beyond oil. The latest agreement could accelerate development of the country's lithium resources, although establishing large-scale production and domestic processing capacity will be critical if Nigeria is to capture more value from its mineral wealth.

By Solomon Ekanem, Business Insider Africa

At least 25 killed in attack on Nigeria's Plateau amid reprisal fears

At least 25 people were killed in an overnight attack on a ​village in Nigeria's central Plateau state, local officials and ‌residents said on Tuesday, in violence that has heightened fears of violent reprisals in the restive region.

The incident highlights persistent insecurity in Plateau ​state, where tensions between farming communities and herders often ​spiral into retaliatory violence, leaving people dead, displaced ⁠and homeless.

Lemun Le'an Iliya, a councillor representing the area, said ​23 people were killed in the attack and another victim ​later died in hospital.

Resident Amos John said that an additional victim had died, bringing fatalities to at least 25. He said the attackers went ​from house to house, killing residents with machetes, with ​women and children accounting for most of the victims.

Plateau police spokesperson Alfred ‌Alabo ⁠told Reuters officers were deploying to the area and would issue a statement after assessing the situation.

A local group, the Mwaghavul Youth Movement, accused authorities of failing to protect vulnerable communities ​and called ​for a review ⁠of security in the area.

"The recurring destruction of communities, killing of innocent citizens, burning of ​homes and destruction of farmlands cannot continue to ​be ⁠treated as ordinary incidents," spokesperson Tubwot Joël Sunday said.

Plateau, in Nigeria's Middle Belt, has long been plagued by violence linked to ⁠disputes ​over land, grazing rights and resources, ​often compounded by ethnic and religious divisions.

By Hamza Ibrahim and Ahmed Kingimi, Reuters

Nigeria’s inflation falls to 15.43% in July as food prices rise

The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate fell to 15.43 per cent in July, extending the recent moderation in overall price pressures, even as food inflation accelerated during the month.

The headline rate, measured on a year-on-year basis, declined from 15.91 per cent recorded in June and was significantly lower than the 24.94 per cent recorded in July 2025.

The statistics agency disclosed the figures in its latest Consumer Price Index (CPI) data released on Monday.

On a month-on-month basis, headline inflation also moderated to 1.57 per cent in July from 1.66 per cent in June, indicating that the average price level increased at a slower pace.

The July figure marks another decline from the 15.93 per cent recorded in May, when headline inflation reached its highest level in the recent three-month period before easing to 15.91 per cent in June.

PREMIUM TIMES reported in July that headline inflation had eased marginally to 15.91 per cent in June from 15.93 per cent in May, although food prices continued to put pressure on households.

The latest figures, however, show that while the overall inflation rate moderated, food prices moved in the opposite direction.

Food inflation accelerates

Food inflation rose to 20.31 per cent year-on-year in July, compared with 17.52 per cent recorded in June.

The July figure, however, remained below the 26.20 per cent recorded in July 2025.

On a month-on-month basis, food inflation increased sharply to 5.56 per cent in July from 3.75 per cent in June.

This means that the pace of food price increases in July was substantially faster than in the previous month, despite the moderation in headline inflation.

The divergence between headline and food inflation points to continued pressure on household budgets, particularly for Nigerians whose spending is heavily concentrated on food and other necessities.

Meanwhile, core inflation, which excludes farm produce and energy, moderated to 14.97 per cent year-on-year in July from 15.92 per cent in June.

It was also lower than the 23.95 per cent recorded in July 2025.

On a month-on-month basis, core inflation fell sharply to 0.15 per cent in July from 1.66 per cent in June.

The figures suggest that price pressures outside volatile farm produce and energy eased considerably during the month.

Urban, rural inflation

The NBS data also showed a difference in price movements between urban and rural areas.

Urban inflation stood at 16.12 per cent year-on-year in July, compared with 25.26 per cent in July 2025.

On a month-on-month basis, urban inflation was 1.90 per cent, down from 2.13 per cent in June.

In rural areas, inflation stood at 13.77 per cent year-on-year in July, compared with 23.95 per cent in July 2025.

Rural month-on-month inflation, however, increased to 0.78 per cent from 0.52 per cent in June.

The figures therefore show that while annual inflation remained higher in urban areas, the monthly movement in rural prices was less pronounced than in cities.

Inflation trend

The NBS’s 12-month headline inflation series shows a sharp decline from 24.94 per cent in July 2025 to 15.43 per cent in July 2026.

The rate fell consistently from 24.94 per cent in July 2025 to 23.14 per cent in August, 20.98 per cent in September, 18.97 per cent in October and 17.33 per cent in November.

It then dropped to 15.15 per cent in December 2025 before recording 15.10 per cent in January 2026 and 15.06 per cent in February.

Inflation subsequently began to rise gradually, reaching 15.38 per cent in March, 15.69 per cent in April, 15.93 per cent in May and 15.91 per cent in June.

The July decline to 15.43 per cent, therefore, represents a reversal of the increases recorded between March and May.

However, the sharp rise in monthly food inflation suggests that the easing in headline inflation has not translated into uniform relief across all categories of household spending.

The NBS’ CPI framework tracks headline, food, core, urban and rural inflation, among other price indices, following the rebasing of the consumer price index.

By Mariya Shuaibu Suleiman, Premium Times

Nigerian drone maker raises $52 million as Ghana factory prepares to become Africa’s largest

 

Terra Industries has raised an additional $18 million, taking the Nigerian defence-technology startup’s seed funding to $52 million as it moves ahead with a new manufacturing facility in Ghana and opens its first international office in London.

The company said the latest funding will support manufacturing, engineering, operations and business-development teams, as well as deployments across Africa and other markets in the Global South.

Terra’s Pax-2 factory in Ghana is scheduled to open in the fourth quarter. The 34,000-square-foot facility is expected to become Africa’s largest drone factory once operational, according to the company.

It is a significant next step after Terra’s funding reached $34 million in February, when the startup said it was scaling production of drones, surveillance towers and unmanned ground vehicles.

The Ghana facility is a more defined version of the company’s earlier plan to expand its manufacturing base beyond Nigeria. It will follow Terra’s 15,000-square-foot flagship factory in Abuja.

Terra says its systems are already used to help protect power plants, mines and other critical infrastructure assets valued at about $11 billion across multiple African countries.

The latest raise also comes as African governments and infrastructure operators look for locally built alternatives in a sector where the continent still receives a small share of global defence-technology funding.


From Abuja to Accra and London

Terra was founded in 2024 by Nathan Nwachuku and Maxwell Maduka. It develops autonomous aerial, land and maritime systems, including drones, interceptor drones, surveillance towers and unmanned ground vehicles.

The additional capital was provided by existing investors 8VC, Silent Ventures, Nova Global, Belief Capital and SV Angel. Norleo Space Investments and Grant Gordon also joined the round, Terra said in its funding announcement.

The company will open an office in London while keeping manufacturing in Africa. It plans further expansion across the Gulf, South America and South Asia.


The factory timetable

Pax-2 is expected to produce up to 50,000 systems a year by 2028. That figure is a company target, not current output.

The new factory is designed to produce Terra’s aerial-systems portfolio. Its planned capacity is more than three times the size of the company’s existing Abuja factory by floor area.

The project gives Ghana a direct role in the company’s next production phase, while Nigeria remains home to its original factory and founding team.

The funding does not mean the factory is already operational. Terra has said Pax-2 is due to open in the fourth quarter, and the planned annual capacity is tied to its 2028 target.

By Victor Oluwole, Business Insider Africa

Related stories: US tech billionaire Joe Lonsdale invests $11.8m in Nigerian drone firm to tackle Africa’s insecurity

Nigeria’s military backs local defense technology startup

Nigeria fire Super Falcons boss Justine Madugu as World Cup dream turns into a nightmare

NFF has dismissed Super Falcons coach Madugu and his entire technical crew with immediate effect. The decision follows Nigeria's failure to qualify for the FIFA Women's World Cup for the first time in history.

The dismissal brings a dramatic end to Madugu's tenure, just one year after he led the Super Falcons to a record-extending 10th WAFCON title. He had taken charge on an interim basis in September 2024 following the resignation of American manager Randy Waldrum.

However, the African champions suffered a sharp downturn at this year's WAFCON, failing to reach the semi-finals before losing 2-1 to South Africa in a play-off. The defeat ended Nigeria's proud record of appearing at every Women's World Cup since the inaugural tournament in 1991.

Task force launched to probe failure

In response to the historic elimination, NFF president Ibrahim Gusau inaugurated a fact-finding committee on Monday. The panel has been given two weeks to investigate the direct and remote causes of the collapse.

"You are to probe into the direct and remote causes of the poor outings of the National Teams in recent times, but with specific reference to the unexpected failure of the Super Falcons to qualify for the World Cup," Gusau stated. "You will have two weeks to do the job and submit your report."

Chaired by former NFF general secretary Fanny Amun, the committee includes former Super Falcons captain Desire Oparanozie and ex-Super Eagles captain Mutiu Adepoju. Amun confirmed the panel would accept public submissions while immersing themselves in the process.

Failure ends proud World Cup record

Nigeria's failure to reach the WAFCON semi-finals stripped them of an automatic qualification spot for the 2027 tournament in Brazil. Their subsequent play-off loss to South Africa officially closed all remaining routes to the global showpiece. The Super Falcons had previously stood as the only African nation to feature in all nine previous editions of the Women's World Cup.


Leadership uncertainty ahead of NFF elections

The crisis within Nigerian football extends far beyond the technical bench, with questions mounting over the federation's leadership. Current NFF officials face uncertainty ahead of elections scheduled for 27 September in Lafia.

ESPN indicate that National Sports Commission officials are considering asking President Bola Tinubu to halt the elections and install a temporary normalisation committee. The NSC has reportedly briefed FIFA regarding the potential intervention.

Under FIFA statutes, any normalisation committee must be formally appointed by FIFA in consultation with CAF to avoid suspension for third-party interference. As the investigative panel prepares its report, Nigerian football faces a crucial period of restructuring.

By Yosua Arya, Yahoo Sports