The National Agency for Science and Engineering Infrastructure (NASENI), based in Nigeria, has signed a $2 billion Memorandum of Understanding (MoU) for new projects with three Chinese partners. This significant development is part of China's commitment to infrastructure development in Nigeria through the Belt and Road Initiative, a global infrastructure investment project spanning over one hundred fifty nations. The projects included in the MoUs encompass a range of infrastructure investments, such as skyscrapers, bridges, railroads, roads, dams, and airports. In addition, a separate $4 billion worth of letters of intent for new projects and investments were also announced.
NASENI's Executive Vice-Chairman and Chief Executive Officer emphasized the organization's dedication to promoting foreign direct investment under the Tinubu administration. The partnership underscores the ongoing collaboration between Nigeria and China in pursuit of extensive infrastructure development in the region, further solidifying their relationship in this endeavor.