In a landmark move to deepen Nigeria's defence industrial capacity and advance indigenous high-technology development, the Defence Industries Corporation of Nigeria DICON and Terra Industries Limited have signed a Memorandum of Understanding MoU for the establishment of a Joint Venture Company JVC. The partnership provides a robust framework for the local production, assembly, research and development R D, and training in high-technology systems, including drones, cybersecurity solutions, robotics, and other ancillary software and hardware platforms.
The MoU, executed pursuant to the DICON Act 2023, underscores DICON's statutory mandate to collaborate with indigenous and foreign defence-related industries through public-private partnerships.
Under the agreement, the Joint Venture Company will operate as a subsidiary of DICON, jointly promoted and owned by DICON and Terra Industries, and duly incorporated in Nigeria.
