Abuja, Thursday, October 5, 2017. The New Partnership for Africa’s Development (NEPAD), Nigeria, and China Energy Investment Alliance Co. Ltd (CEIA) have signed an agreement to cooperate and further their common interests in the areas of trade and development and to engage in programmes that are geared towards the economic empowerment of Nigerians in line with the NEPAD mandate and the Presidential Economic Diversification Initiative of the Buhari Administration.
Specifically, the MoU, which was jointly signed at NEPAD Nigeria office, Thursday, seeks to provide the ground work for cooperation on investment promotion,organisation and cooperation on programmes and activities in poverty eradication with particular reference to the establishment of a fruit juice factory, an asphalt plant, a cashew nut processing plant, cassava farms as well as setting-up of a GSM Handset factory in Nigeria. Apart from the above immediate areas of investment, other target areas for subsequent investment concerns by the Company include the below:
- Oil and Gas
- Agro-allied Activities
- Power Transmission and Distribution
- Green and Renewable Energy
- Automobile
- Project Financing
- Space Satellite Development and
- Storage Facilities.
Parts of the MoU, which was endorsed for NEPAD Nigeria by the CEO, Princess Gloria Akobundu and the General Manager, China Energy Investment Alliance Co LTD, Angela Guo, for CEIA, in the presence of their witnesses, say:
“That neither party shall be in position to commit the other party, whether financially or in kind, without the other party’s written consent. CEIA will be the primary relationship holder within the MoU to implement the poverty eradication programme, while NEPAD Nigeria will facilitate with the necessary public and private sectors the implementation of the above projects.
“Continuing, the Agreement reads:
“To this end, CEIA will introduce the above products to various potential partners. CEIA will take equity in the transactions as well as provide necessary investment funds and financial partners to the execution of the projects. In addition, NEPAD Nigeria will fully monitor and evaluate the projects to ensure their full execution”.
Speaking to journalists during the signing of the MoU, the NEPAD Nigeria CEO, Princess Akobundu lauded the initiative of the CEIA in seeking to key into the pro-people agenda of the Buhari Administration by creating jobs for the nation’s teeming youth and diversifying the economy to embrace potential that exists in the non-oil sector of the economy. She expressed hope that the Chinese Company would soon make good its promise of commencing activities in Nigeria as soon as possible.
On the other hand, Angela Guo, the GM, CEIA, said her Organisation was glad to be part of the huge market Nigeria presents on the African continent and, indeed, across the entire globe. She expressed satisfaction with what she had seen as part of the Presidential Economic Diversification Initiative and promised that her Company would quickly move into action in order to consummate the requirements of the MoU.
Among those who were part of the meeting were the Nigerian partners of the CEIA, Jork Engineering Co (W. A) LTD, represented by Mr Markson F. Onwukwe and Dr. Stanley Ijeh. Others were the Director, Programmes Development and Implementation, NEPAD Nigeria, Mr. E. E Abang, Dr. Charles Onuoha and Alh. Sarki Wakil, both of the NEPAD Nigeria CEO’s office.
NKem Anyata-Lafia
SA (Media and Publicity)to CEO
NEPAD Nigeria
October 8,2017.
