Post #303

🇳🇬 Nigeria’s Old Friends Nigerian tycoons, the Chagoury brothers, have been doing business in the country longer than its modern political system has existed. And they have always managed to keep up with the times — constantly gathering new assets under their belt, now including lithium. 🧑‍⚖️ The UK-based company Jupiter Lithium has filed a lawsuit against the Nigerian government, claiming its rights to develop lithium in Kaduna State were violated. Reportedly, part of its assets was revoked over the summer and effectively transferred to another company — Atlantic Mining Technologies. 💰 Atlantic Mining Techniques is a Nigerian firm backed by local tycoons Gilbert and Ronald Chagoury, along with Australian investors. 🤝 The British, who had already invested millions of dollars in exploration and project development, seemingly have just goofed. The Chagoury brothers consistently secure the juiciest multi-billion-dollar concessions in Nigeria and maintain a close friendship with President Tinubu — whose son Seyi Tinubu allegedly holds stakes in some of their ventures. 💪 The Nigerian Govt has thus mounted a brave defense against Western companies grabbing local resources —only to promote the interests of elites with Nigerian citizenship (and, admittedly, also Lebanese citizenship and who knows what else). Most likely, the small and not particularly wealthy Jupiter Lithium will eventually leave Nigeria empty-handed — a more important partner has appeared. Devils Below