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Tuesday, November 28, 2023

NASENI, Chinese firms sign $2 billion MoUs

The National Agency for Science and Engineering Infrastructure (NASENI) and three Chinese partners have signed Memoranda of Understanding (MoUs) for new projects valued at $2 billion.

This came as Nigeria continues to reap bounds of dividends from the ongoing third Belt and Road Initiative (BRI), with another $4 billion worth of letters of intent for new projects and investments.

Meanwhile, the Federal Ministry of Works also signed an MoU with China Harbour Engineering Company Limited for the construction of the Lekki Blue Seaport at the Lekki Free Trade Zone in Lagos.

Vice President Kashim Shettima, who is representing President Bola Tinubu at the BRI Forum in Beijing, China, witnessed the event, which also had the Ministers for Foreign Affairs, Power, Works and other top government officials present.

Shettima, who commended all stakeholders and their Chinese counterparts, stated that Nigeria has never been this ripe and ready for businesses to thrive in.

He said with the deliberate efforts by the current administration for a level playing ground for investors, the coast is now clear for deepened economic and trade collaborations.

Executive Vice Chairman and Chief Executive Officer of NASENI, Khalil Halilu, said the crystallisation of agreements was a fulfillment of his agency’s commitment towards boosting the foreign direct investment (FDI) drive of the Tinubu administration.

The pacts to partner NASENI for investments in Nigeria were listed in a release by the organisation to include: Shanghai Launch Automotive Technical Co Ltd – an MOU to establish a new energy automobile facility for the production of new energy electric vehicles, China Great Wall Industry Corporation – an MOU for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects and Newway Power Technology Company Ltd – an MOU for the transfer of technology on lithium batteries, electric vehicles and allied technologies.

The Minister of Works, Dave Umahi, said the Lekki Blue seaport project was yet another indication that Nigeria remained an industrial haven for many investors.

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