Nigeria’s efforts to localize value chain manufacturing in renewable energy technology took a significant step forward with a recent visit to Beijing;
As the Chairman of Sinoma International Engineering Company, Mr. Yin Zhisong, has expressed strong interest in establishing a renewable energy technology manufacturing industry in Evergreen City.
This followed the hosting of the Special Presidential Envoy on Climate Action Ajuri Ngelale by Mr. Zhison for a dinner in the Chinese capital.
Sinoma, a leading subsidiary of the CNBM Group with $85 billion in assets, 200,000 employees, 11,000 patents, and 26 R&D Institutes,
Ngelale however noted in his statement that the move for industrial collaboration demonstrates the support for President Bola Tinubu’s green industrial vision.
In another development, was a virtual discussions with a combined technical team from the U.S. Department of Energy and the U.S. State Department which focused on Nigeria’s development of a circular economy and a new initiative aimed at co-creating industrial clusters and consumer credit-tied financing packages.
The Special Presidential Envoy on Climate Action explained that this initiative is designed to be programmatic, project-driven, private sector-led, and public sector-enabled, with the goal of unlocking Nigeria’s envisioned $1 trillion GDP in an inclusive manner that creates opportunities for all Nigerians.
