If one thing is sure, its the fact that Lil Kim has really lived life. She has plenty of experiences to reflect back on and learn from. For this reason, I believe she is more than mature enough to raise a child and I believe she will make a great mother.
Is Lil' Kim pregnant? Congrats to her! Lil' Kim is definitely mature enough to raise a child (after all, she's an adult), and people often confuse stage and tabloid presence with how people actually are. Nobody here actually knows Lil' Kim, so we can't judge, but she's a successful adult woman - why not?
Judging from the petty feud she started with another person much younger than herself (Nicki Minaj), her apparent body image issues involving plastic surgery, and the skimpy, outrageous outfits she wears that aren't age-appropriate, I'm not sure if she's emotionally fit to raise a kid. She seems to have a lot of deep-seated personal issues that need to be dealt with before raising another human being.
I don't believe that Lil Kim would make a good parent if she remains the person she is right now. However, having a child is an eye-opening experience. She could easily change the way she lives and become a strong and effective parent. Though, again, the life she leads now would not be a good environment for a child to grow up in.
Lil Kim probably is not mature enough to raise a child, but then again most new parents are not and certainly most young or especially rowdy performances are not. Unfortunately we have not been able to and never will be able to legislate which people can have biological children, so this is a moot point.