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Sunday, April 21, 2024


    Nigerian Science Agency Inks $ 2 billion deal with three Chinese firms

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    Somali Magazine October 24, 2023- Nigeria’s National Agency for Science and Engineering Infrastructure (NASENI) has partnered with three Chinese firms to improve the country’s digital and power economy.

    As per the press statement the Memorandum of Understanding will significantly propel Africa-China relations in the next decade.
    The West African state’s digital economy and the government are deploying strategies to overhaul its journey to dominate the continent’s economic ladders.

    Nigeria has continued to dominate the digital ecosystem by housing a few unicorn startups like Flutterwave, Jumia, and Andela. As a result, Lagos, Nigeria’s capital city, is a breeding ground for innovation and investment opportunities. Multiple organizations and developed governments have sought partnerships and collaborations to tap into the nation’s creativity and drive for prosperity.

    Recently China’s President Xi Jinping pledged to increase investment in Nigeria’s power generation sector and its digital economy.
    The MOU is a contract that confirms several new projects within the nation with the main aim of improving Nigeria’s economic standpoint. Several senior government figures, including the ministers of foreign affairs, power, and works, attended the ceremony.
    This feat will significantly improve Africa-China relations and open new opportunities for the unemployed youths in Nigeria. The nation’s positive take on emerging technology is among the many reasons behind China’s decisions. Vice-president Kashim Shettima presided over the signing of the Memorandum of Understanding at the Belt and Road Initiative Forum in Beijing, China.

    In addition, Nigeria also landed another $4 billion worth of letters of intent to boost investment in different sets of the economy. Nigeria’s new government intends to boost the nation’s recent sluggish rate. With political strife finally settling, the nation has sought to revive numerous projects to revive its failing fiat currency.

    NASENI and its governmental offices are striving to promote digital innovation among its youth. In addition, its government has also significantly advocated for blockchain-based technology. This has significantly propelled Nigeria’s stance in Africa’s digital transformation.

    Nigeria’s National Agency for Science and Engineering Infrastructure released a list containing affiliate entities. This list represents future projects and partnerships mining to promote Nigeria’s position in Africa’s tech Hierarchy.

    The affiliate partners include Shanghai Launch Automotive Technical Co LTS, who signed a Memorandum of Understanding to promote the region’s energy production. According to the document, SLAT has agreed to establish a new energy automobile facility to produce new energy electric vehicles, increasing the region’s market for energy.

    NASENI lands multiple MOUs with several China-based organizations to overhaul Nigeria’s digital transformation and energy production.

    Asian tech giant signed an MOU for the new turnkey delivery of Unmanned aerial vehicles. This MOU will create a new assembly line, further advancing the region’s e-commerce industry. Newwat Power Technology Company Ltd signed the last MOU to transfer technology on lithium batteries, electric vehicles, and allied technologies.

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