Seemberg News

Latest Nigeria Business News

NASENI, three Chinese firms sign $2bn MoUs


The National Agency for Science and Engineering Infrastructure has signed a $2bn memoranda of understanding with three prominent Chinese partners for upcoming projects.

The agreement was revealed in a statement by the Senior Special Assistant to the President on Media and Communications, Office of the Vice-President, Stanley Nkwocha.

Vice President Kashim Shettima, on behalf of President Bola Tinubu, presided over the signing at the Belt And Road Initiative Forum in Beijing, China.

Notable attendees included key government officials such as the Ministers of Foreign Affairs, Power, and Works.

The statement read, “As Nigeria continues to reap heaps and bounds of dividends from the ongoing 3rd Belt And Road Initiative, NASENI and three Chinese partners have signed memoranda of understanding for new projects valued at $2bn.

“Another $4bn is the worth of letters of intent for new projects and investments.

”This is just as the Federal Ministry of Works also 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 to partner NASENI for investments in Nigeria were listed in a release by NASENI 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 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 Chief Executive Officer of NASENI, Khalil Halilu, expressed that the realisation of these agreements marked the agency’s dedication to advancing the Foreign Direct Investment endeavours of the Tinubu administration.

Previous Article

No plan to increase taxes, FIRS chairman assures firms

Next Article

FG records N1.3 trn revenue shortfall

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *