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NASENI Agrees to Work with NASRDA to Design Drones, Rockets

National Agency for Science and Engineering Infrastructure (NASENI) and the National Space Research & Development Agency (NASRDA) have agreed to work together for the development of Nigeria’s space resources, local content, design and fabrication of space technologies for overall socio-economic growth and development of the country.

Olusegun Ayeoyenikan, deputy director of Information of NASENI, in a statement, noted that the collaboration between the two agencies was made possible when Dr. Halilu Shaba, director general of NASRDA, paid a courtesy visit to the management of NASENI led Prof. Mohammed Haruna, executive vice chairman/chief executive in Abuja .
The agreements will include NASENI assisting NASRDA in fabrication and design of drones and rockets thereby developing local capacities in those areas and also to conserve the country’s foreign exchange, stressing that such collaboration will spur local production to make the nation self reliant as most hi-tech equipment used in space technologies are imported into the country.
Explaining the reasons for the visit, Dr Shaba disclosed that “there was no better time to visit NASENI than now to congratulate the Agency on Federal Government’s approval to release the one (1) percent Federation Account funding mechanism to NASENI as contained in its establishment Law.”
He said further that the feat which was attributed to the leadership prowess of Prof. Haruna came as a major breakthrough for the entire Nigeria’s science, technology and innovation system because the singular effort would open further doors to positive actions by successive governments to make science and innovation funding a priority in Nigeria.
According to him, before this NASENI’s feat, the budgeting system of the country had never been in favour of Nigeria’s science, technology and innovation system which had made the socio-economic development efforts of the country very difficult.
While commending the rare hope which NASENI’s special fund brought to the sector, he said there was need for every well-meaning stakeholder to rally support for the Agency.
“Without investment in science and technology and innovation as a matter of priority, it will be difficult continuously to achieve economic growth and development of our country”, he said.
He stressed further that “the way out therefore is for the government to make funding of the sector a major focus and our coming to NASENI is to identify with this great feat of achieving special funding of 1 percent federation Account for NASENI which we believe signalled the beginning of good things to come for the science, technology and innovation system”.
In his response, the NASENI Chief Executive said the Agency had never engaged in any venture all alone without collaboration and synergy with others because NASENI was not established to reinvent the wheels. He said “when you collaborate, you gain more speed, make more successes, progress and that way you prevent needless duplication of efforts and waste of resources.”
The NASENI boss assured NASRDA of unbroken working collaborations, going forward, in all the areas which have been identified and many more.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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