NASENI, Chinese firms sign $2bn MoUs

Abuja, Oct. 20, 2023 : The National Agency for Science and Engineering Infrastructure (NASENI) and three Chinese partners have signed a Memoranda of Understanding (MoUs) for new projects valued at $2 billion.

Mr Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice-President, made this known in a statement on Thursday in Abuja.

Nkwocha said that the Vice-President Kashim Shettima, who is representing President Bola Tinubu at the Belt And Road Initiative Forum in Beijing, China, witnessed the signing of the MoUs.

He also said that the event was witnessed by the Ministers of Foreign Affairs, Power, Works and other top government officials present.

He said, ” As Nigeria continues to reap heaps and bounds of dividends from the ongoing 3rd Belt And Road Initiative (BRI), NASENI) and three Chinese partners have signed Memoranda of Understanding (MoUs) for new projects valued at $2 billion.

” Another $4 billion 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 Harbour Engineering Company for the construction of the Lekki Blue Seaport contract at the Lekki Free Trade Zone in Lagos.”

Shettima commended all stakeholders and their Chinese counterparts, saying ” Nigeria has never been this ripe and ready for businesses to thrive in.”

He said with the painstaking efforts by the Tinubu administration to ensure a level-playing ground for all investors following the removal of all bottlenecks, the coast was now clear for deepened economic and trade collaborations.

Also, Alhaji Khalil Halilu, Executive Vice-Chairman and Chief Executive Officer of NASENI, said the crystallisation of the agreements was a fulfillment of the agency’s commitments towards boosting Foreign Direct Investment drive of the Tinubu administration.

He said ” This is a very important day for us at the National Agency for Science and Engineering Infrastructure because it is a day to show the results of some of the work that we have been doing in the last six weeks since I assumed the leadership of NASENI.”

Also, the Minister of Works, Dave Umahi, during the signing of the MoU on the construction of the Deep Blue Sea Port at the Lekki Free Trade Zone, said the project was yet another indication that Nigeria still remains an industrial haven for many investors.

The event, which was held at the Nigerian Embassy in Beijing later saw the Vice President meeting with several communications, tech, railway, power and construction giants.