By Daniel Edu
The National Agency for Science and Engineering Infrastructure (NASENI) has entered into memoranda of understanding (MoUs) worth $2 billion with three prominent Chinese partners for upcoming projects. This significant agreement was announced through a statement by Stanley Nkwocha, the Senior Special Assistant to the President on Media and Communications, Office of the Vice-President.
The signing ceremony took place at the Belt And Road Initiative Forum in Beijing, China, and was presided over by Vice President Kashim Shettima, representing President Bola Tinubu. Several high-ranking government officials, including the Ministers of Foreign Affairs, Power, and Works, were also in attendance.
The statement noted, “As Nigeria continues to reap significant benefits from the ongoing 3rd Belt And Road Initiative, NASENI and three Chinese partners have signed memoranda of understanding for new projects valued at $2 billion.”
In addition to these MoUs, there are also letters of intent for new projects and investments worth $4 billion. Notably, the Federal Ministry of Works signed an MoU with China Harbor Engineering Company Ltd. for the construction of the Lekki Blue Seaport contract at the Lekki Free Trade Zone in Lagos.
The MoUs signed with NASENI for investments in Nigeria include:
1. Shanghai Launch Automotive Technical Co Ltd: This MoU is aimed at establishing a new energy automobile facility for the production of new energy electric vehicles.
2. China Great Wall Industry Corporation: An MoU for the turnkey delivery of Unmanned Aerial Vehicles assembly line projects.
3. Newway Power Technology Company Ltd: This MoU is focused on technology transfer related to lithium batteries, electric vehicles, and allied technologies.
Khalil Halilu, the Chief Executive Officer of NASENI, expressed that the realization of these agreements underscores the agency’s commitment to advancing the Foreign Direct Investment initiatives of the Tinubu administration.
