Nigeria’s National Agency for Science and Engineering Infrastructure (NASENI) has signed Memoranda of Understanding (MoU) with three Chinese partners for new projects valued at $2 billion. The signing ceremony took place at Nigeria’s Embassy in Beijing in the presence of Vice President Kashim Shettima.
Additionally, NASENI has received letters of intent for new projects and investments worth $4 billion from more Chinese companies. This development follows the recently concluded 3rd Belt and Road Initiative (BRI) Forum hosted by China.
As part of this collaboration, Nigeria’s Ministry of Works has also signed an MoU with China Harbour Engineering Company Ltd for the construction of the Lekki Blue Seaport contract at the Lekki Free Trade Zone in Lagos.
Vice President Kashim Shettima, who represented President Bola Ahmed Tinubu at the Belt and Road Initiative Forum in Beijing, China, witnessed the event, which was attended by the Ministers for Foreign Affairs, Power, Works, and other top government officials.
In a statement to journalists after the signing ceremony, Vice President Shettima commended all stakeholders and their Chinese counterparts, expressing his optimism about Nigeria’s business potential. He emphasized the level playing field for investors that has been created through the removal of bottlenecks, paving the way for enhanced economic and trade collaborations.
Khalil Halilu, the Executive Vice Chairman of NASENI, celebrated the manifestation of these agreements as a testament to NASENI’s commitment to boosting Foreign Direct Investment under the Bola Tinubu administration.
The agreements signed with NASENI include:
I. Shanghai Launch Automotive Technical Co Ltd – MoU to establish a new energy automobile facility for the production of new energy electric vehicles.
II. China Great Wall Industry Corporation – MoU for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects.
III. New way Power Technology Company Ltd – MoU for the transfer of technology on lithium batteries, electric vehicles, and allied technologies.
The Vice President also received Letters of Intent from various Chinese companies, totaling an investment value of $4 billion. These include TBEA (solar products), DongFeng Vehicles Co. (vehicle design and production), HiLong Energy (CNG, LNG, methanol), Space Star Technology (drone technology transfer), ENRIC (clean energy utilization technology), Hidier Group (development of new industrial park), China State Construction Company (building technology and materials), CIMC (natural gas infrastructure delivery), Value Platform International Services Ltd (vocational training), and Acadia Technologies (Shenzhen) Co. Ltd. (smart grids and microgrids).
In addition, the Minister of Works, Engr. Dave Umahi, highlighted during the MoU signing ceremony for the construction of the Deep Blue Sea Port at the Lekki Free Trade Zone that this massive project further reinforces Nigeria’s status as an industrial haven for investors.
Another noteworthy aspect of the event was Vice President Shettima’s meeting with several communications, tech, railway, power, and construction giants based in China, including China National Electric Engineering Co. Ltd, China Civil Engineering Construction Corporation (CCECC), China Electronics Technology Group Corporation (CETC), China Railway Construction Corporation (CRCC), China Communications Construction Co. Ltd (CCCC), HUAWEI Technologies, Senteng International Company Nigeria Limited, China National Electric Engineering Co. Ltd, and Zhejiang Dahua Technology Co. Ltd.
