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The government of Nigeria, led by President Bola Tinubu, has successfully secured over ₦4.2 trillion through 26 Memoranda of Understanding (MoUs) with several countries and bodies outside the shores of the country.
These agreements cover various sectors which include but not limited to infrastructures, education, trade and investment, tourism and culture, energy security, technology as well as sports.
Among them are China’s $2bn infrastructure agreement; Germany’s $500m renewable energy and gas deal; a significant MOU for nuclear energy with Russia among others.
In addition to these deals with France worth $600m in technology, Nigerian has also signed separate MOUs with Russia and Qatar on education.
These MoUs are expected to enhance Nigeria’s development while building its global partnerships in different spheres. Such financial commitments may be even larger than they look due to some MoUs that did not disclose their financial terms.
