- China’s President Xi Jinping pledged to increase investment in Nigeria’s power generation sector and its digital economy.
- Shanghai Launch Automotive Technical Co LTS signed a Memorandum of Understanding to promote the region’s energy production.
- Since 1992, NASENI has dedicated its funding, time, and efforts to developing Nigeria’s technical developments.
Africa’s digital transformation has caught the eye of many investors, aspiring to profit from its rapid growth. Over the years, Africa’s fintech, e-commerce, and mobile industry have significantly grown, showcasing the continent’s untapped potential. Unfortunately, despite the valid efforts of several governments, Africa’s progress is currently experiencing difficulties.
Unstable economies, tanking currencies, corruption, and insufficient funding have hindered progress for some time. In recent news, 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. According to the announcement, the latest Memorandum of Understanding will significantly propel Africa-China relations in the next decade.
Nigeria’s NASENI secures $2 billion deal with China
Amid Africa’s economic and political hierarchy, four central countries compete to dominate the continent. Kenya, South Africa, Egypt, and Nigeria are common names often hogging the spotlight of their respective regions. Nigeria is among the continent’s solid economic powerhouses despite a failing fiat currency. Nigeria’s digital economy and the government are deploying strategies to overhaul its journey to dominate the continent’s economic ladders.
Nigeria has dominated 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.
In recent news, China’s President Xi Jinping pledged to increase investment in Nigeria’s power generation sector and its digital economy. This milestone eventually led to a $2 billion Memorandum of Understanding signed by Nigeria’s NASENI and three Chinese partners.
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 signing 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.
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Affiliate Partners
As a result, NASENI and its governmental offices strive 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.
Since 1992, NASENI has dedicated its funding, time, and efforts to developing Nigeria’s technical developments. It has established several development institutes to provide engineering infrastructure as a vehicle for Technological Development.
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NASENI’s vision of excellence in technology
It has provided science infrastructure like the Primary Science KIT to educate its youth on several advanced science concepts and laboratory supplies and provided facilities to educate them. In addition, it has also developed engineering designs and disseminated them to standardize Nigerian-made products. This has enabled many SMEs and products to pass global criteria, broadening the market gap beyond Nigeira’s borders.
The central vision and agenda of the NASENI have become the building blocks of these projects. In addition, it has collaborated with several international and national entities promoting academic excellence and innovation within the region.
For instance, the Nigerian Academy of Engineering, the country’s top educational authority, recognized NASENI for raising the bar for Research and Development. Its campaigns for revitalizing the hom-grow industrialization have shaped the country into the economic powerhouse it is today. In addition, its positive take on the emerging market is why Nigeria has dominated Africa’s blockchain space.
Alhaji Khalil Halilu, CEO of NASENI, has stated that the achievement of the organization reflects the organization’s commitment to supporting Nigeria’s digital economy,
As Africa-China relations significantly improve, it’s only a matter of time before Nigeria attains The Africa Tech Hub title. In response to its latest achievement, Alihaji 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.”
