NASENI and Three Chinese Firms Seal $2 Billion Deals Amid BRI Gains
During the ongoing third Belt and Road Initiative (BRI) Forum in Beijing, the National Agency for Science and Engineering Infrastructure (NASENI) and three prominent Chinese companies have signed Memoranda of Understanding (MoUs) for substantial projects worth $2 billion.
Nigeria is capitalising on its involvement in the BRI, with an additional $4 billion in letters of intent for new projects and investments.
In a separate agreement, the Federal Ministry of Works inked an MoU with China Harbour Engineering Company Limited for the construction of the Lekki Blue Seaport in the Lekki Free Trade Zone, Lagos.
Vice President Kashim Shettima, representing President Bola Tinubu at the BRI Forum, witnessed the signing ceremony. He lauded the collaboration, emphasising that Nigeria is now more receptive than ever to businesses.
Executive Vice Chairman and Chief Executive Officer of NASENI, Khalil Halilu, regarded these agreements as a step forward in the administration’s commitment to boost foreign direct investment (FDI) in Nigeria.
The MoUs with NASENI and Chinese companies encompass several critical projects:
- Shanghai Launch Automotive Technical Co. Ltd. is establishing a new energy automobile facility for the production of new energy electric vehicles.
- China Great Wall Industry Corporation: Turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects.
- Newway Power Technology Company Ltd. agrees to transfer technology related to lithium batteries, electric vehicles, and allied technologies.
Nigeria’s Minister of Works, Dave Umahi, remarked that the Lekki Blue Seaport project is a testament to the country’s attractiveness as an industrial destination for investors.
Source: Guardian Newspapers
