NASENI, Chinese Companies Sign MoUs, Receive Letters of Intent Valued at Billions

NASENI, Chinese Companies Sign MoUs, Receive Letters of Intent Valued at Billions

NEWS DIGEST – In a significant development on the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China, the National Agency for Science and Engineering Infrastructure (NASENI) signed three Memoranda of Understanding (MoUs) with Chinese partners, paving the way for projects worth a combined $2 billion. The event, held on Thursday, October 19, 2023, and attended by Vice President Kashim Shettima (GCON), marked a milestone in strengthening Nigeria’s technological and economic landscape.

The three Chinese companies partnering with NASENI and investing in Nigeria under these MoUs are:

1. Shanghai Launch Automotive Technical Co Ltd: This partnership involves the establishment of a facility for the production of new energy electric vehicles, promising advancements in Nigeria’s automotive sector.
2. China Great Wall Industry Corporation: The MoU entails the delivery of Unmanned Aerial Vehicles (UAV) assembly line projects, furthering technological growth.
3. Newway Power Technology Company Ltd: This MoU facilitates technology transfer in the fields of lithium batteries, electric vehicles, and allied technologies, contributing to Nigeria’s global tech presence.

In addition to the MoUs, ten Chinese companies expressed their strong interest in collaborating with NASENI, presenting Letters of Intent to Vice President Kashim Shettima. These prospective partnerships cover diverse domains such as energy (solar, natural gas, microgrids), vehicle production, training, technology transfer, drone technology, and the creation of an advanced industrial park. The collective value of these projects exceeds an impressive $4 billion.

Mr. Khalil Halilu, the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NASENI, signed these pivotal agreements on behalf of the agency, emphasizing their transformative potential. He noted that the MoUs, when implemented, would bring $2 billion worth of new investments to Nigeria, fostering job creation, skills development, technology transfer, export potential, and economic growth.

Mr. Halilu underlined NASENI’s commitment to collaboration, innovation, and commercialization, pledging to convert these innovations into viable products that drive Nigeria’s industrialization and prosperity.

This momentous occasion marks the commencement of ambitious collaborations aimed at propelling Nigeria into a new era of technological advancement and economic development. Chinese companies, including TBEA, DongFeng Vehicles Co., HiLong Energy, and others, have shown their dedication to fostering these significant advancements.