Nigus International Investment Limited and Elmirate Investment LLC have signed a memorandum of understanding to develop a next-generation defence technology, satellite systems and advanced manufacturing platform in Nigeria. 

The strategic agreement between the two companies is backed by a planned investment of up to $200 million. 

The Executive Chairman of Nigus International Investment Limited, Malik Ado-Ibrahim, who stated this in a statement on Thursday, said the development was a significant step towards strengthening the country’s sovereign defence capabilities. 

“Africa is entering a pivotal phase in its development, where technological capability will increasingly define economic strength and national security. 

“Through this partnership we are working to build a platform in Nigeria that supports innovation, advanced manufacturing and meaningful technology transfer,” Mr Ado-Ibrahim said.

He stated that the objective was to create a sustainable industrial base capable of serving national priorities while contributing to the wider security needs of the region. 

Also, the Managing Director of Elmirate Capital, Pankajj Ghode, said the company was proud to partner with Nigus International on an initiative that aligns with Nigeria’s ambition to become a leading technology and aerospace hub. 

Mr Ghode added that the target was a planned commitment of up to $200 million which reflects strong confidence in Nigeria’s economic potential. 

“By connecting our global network of defense, cybersecurity, aerospace and advanced technology partners with local expertise, we aim to support the development of a resilient ecosystem that drives industrial growth and strengthens regional stability,” he said. 

He said that the collaboration would be implemented through a newly established Special Purpose Vehicle, Nigus Tactical Systems Ltd, to serve as the central platform for investment, technology integration and operational development. 

It added that the initiative was designed to support Nigeria’s ambitions to strengthen domestic defence production, build advanced technology capacity and reduce reliance on imported security infrastructure.

It also noted that partnership would operate within Nigeria’s regulatory framework under the Defense Industries Corporation of Nigeria (DICON) and in alignment with the provisions of the DICON Act 2023. 

By combining international technology partnerships with local leadership, the project seeks to accelerate the development of high-value industrial capabilities while supporting national security objectives and economic growth.