By Saminu Ibrahim
Abuja
The New Partnership for Africa’s Development (NEPAD), Nigeria, and China Energy Investment Alliance Co. Limited (CEIA) have signed an agreement to cooperate and further their common interests in the areas of trade and development.
The Memorandum of Understanding (MoU) will engage the two parties 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, in Abuja 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.
A statement signed, by the Special Adviser, Media and Publicity to the Chief Executive Officer of NEPAD, Nkem Ayata-Lafia stated that apart from the immediate areas of investment, other target areas for subsequent investment concerns by the Company include 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 limited, Angela Guo, for CEIA, said “That neither party shall be in position to commit the other party, whether financially or in kind, without the other party’s written consent.
