NASENI Signs $2 Billion MoU with three Chinese Partners

The National Agency for Science and Engineering Infrastructure has recently entered into a Memorandum of Understanding valued at $2B with three Chinese partners in preparation for upcoming projects.
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The announcement of this agreement came through a statement from Stanley Nkwocha, the Senior Special Assistant to the President on Media and Communications within the 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, who acted on behalf of President Bola Tinubu. This marked a notable moment in fostering international collaboration and advancing Nigeria's initiatives in science and engineering.

In attendance at this crucial event were several key government officials, including ministers responsible for 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.

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