Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal
  • Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments
  • ‘AI In Nigeria’ Announces InnovateAI Lagos 2026
  • Borderless TEK Expands Free Training To Empower Adults Transitioning Into Tech
  • Nigeria’s Invoice Gap: Why Late Payments Are Stalling Small Businesses And What Can Be Done About It
  • Kano State Government To Host Cycling Kano Event In December
  • Nigerian-Owned Radease, 4 Other African Startups Named Winners Of Llama Impact Grant
  • Cybercrime Case Against Senator Natasha: Court To First Hear Jurisdiction Objection
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » NASENI, Chinese Firms Sign MoUs, Receives Letters Of Intent For $bn Investments
Business

NASENI, Chinese Firms Sign MoUs, Receives Letters Of Intent For $bn Investments

Our REPORTERBy Our REPORTER20 October 2023No Comments4 Mins Read3 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
NASENI
The NASENI CEO, Khalil Halilu (right) with a representative of the Chinese firms, displaying the MoU document
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp
10 Chinese firms also presented Letters of Intent to the Vice President, indicating strong interest in partnering with NASENI to invest in and develop various technology and industrial innovation projects, collectively valued at $4 billion

The National Agency for Science and Engineering Infrastructure (NASENI) and new Chinese partners signed three Memoranda of Understanding (MoU) for new projects valued at $2 billion.

The MoU signing ceremony took place at an event attended by Vice President Kashim Shettima on Thursday, October 19, 2023, on the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China.

The three Chinese companies that signed the MoU to partner with NASENI and invest in Nigeria include Shanghai Launch Automotive Technical Co Ltd, who signed an MoU to establish a new energy automobile facility for the production of new energy electric vehicles.

Others are China Great Wall Industry Corporation, whose MoU is for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects; and Newway Power Technology Company Ltd, who signed an MoU for the transfer of technology on lithium batteries, electric vehicles, and allied technologies.

In addition to the MoUs, 10 Chinese firms also presented Letters of Intent to the Vice President, indicating strong interest in partnering with NASENI to invest in and develop various technology and industrial innovation projects, collectively valued at $4 billion, covering energy (solar, natural gas, microgrids), vehicle production, training and technology transfer, drone technology, and the development of a new industrial park.

Speaking at the ceremony, Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NASENI, Mr. Khalil Halilu, who signed the agreements on behalf of NASENI, 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 works that we have been doing in the last six weeks since I assumed the leadership of NASENI.”

READ ALSO  Nigeria Tops In Airtel Africa Q3 2021 Revenue Growth Report

He added: “Collectively, these three MoUs will, upon implementation, deliver $2 billion worth of new investments in Nigeria; that will translate into jobs, skills development and technology transfer, potential exports and foreign exchange earnings, and a boost to local economies.”

The NASENI EVC/CEO described the MoUs and the Letters of Intent as “early fruits of the diligent work of the new NASENI, an institution that we are reforming and building around the core principles of Collaboration, Creation, and Commercialization.

He added that “we see this as a chain: we forge partnerships with willing and committed partners, at home and abroad; on the basis of these partnerships, we create and co-create new products and innovation; and then we ensure that these products are taken to market in a commercially viable and profitable manner.”

Halilu stressed that the Agency will “work very hard to transform them into commercially viable products, that will drive the industrialization, development, and prosperity of Nigeria,” adding that “Innovation is not meant for the shelves, or the archives. It should translate into usable products. This is our belief, and one of our driving principles at NASENI.”

He expressed gratitude to His Excellency, President Bola Ahmed Tinubu, who is the Chairman of the Governing Board of NASENI, as well as Vice President Kashim Shettima, for the immense support and encouragement that they have provided to him and to the Agency, pledging that the confidence they have reposed in him will not be misplaced.

The Chinese companies that submitted Letters of Intent to Vice President Shettima are TBEA (solar products); DongFeng Vehicles Co. (vehicle design and production), HiLong Energy (CNG, LNG, methanol); China State Construction Company (building technology and materials); CIMC (natural gas infrastructure delivery).

READ ALSO  Eid Mobile Bonanza: PalmPay Unveils First Set of Winners  

Others are Value Platform International Services Ltd (vocational training); Acadia Technologies (Shenzhen) Co. Ltd. (smart grids and microgrids); Space Star Technology (Drone technology transfer); ENRIC (clean energy utilization technology); and Hidier Group (development of new industrial park).

#Chinese Firms #Investments #Letters Of Intent #MoUs #NASENI
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleNCC, Moniepoint, Throw Weight Behind NITRA FINTECH Forum
Next Article Software Testing: TestNigeria 2.0 Conference Holds November 9 In Lagos
Our REPORTER
  • Website

Related Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments

26 September 2025

‘AI In Nigeria’ Announces InnovateAI Lagos 2026

25 September 2025

Borderless TEK Expands Free Training To Empower Adults Transitioning Into Tech

25 September 2025

Teachers Applaud NITDA’s DL4ALL Programme As 3,600 Undergo Training

22 September 2025

Applications Open For Access Bank’s Womenpreneur Pitch-A-Ton 2025

22 September 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments

26 September 2025

‘AI In Nigeria’ Announces InnovateAI Lagos 2026

25 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.