08 December 2020 By Georgina Humphrey
The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, has expressed hope of local production of spare parts for industries following a Memorandum of Understanding, MOU, signed by the National Metallurgical Development Centre, NMDC, and Defence Industries Corporation of Nigeria, DICON, in Abuja.
This is contained in a statement signed by his Special Adviser on Media, Ayodeji Adeyemi.
It explains that the MOU between the two organisations reflects President Muhammadu Buhari’s drive towards building and sustaining local content to save foreign exchange.
It describes the MOU as a new frontier that will boost research and promote development of local content in the manufacturing and mining sectors as spare parts will be provided for local industries including exports and job creation.
“This agreement between the National Metallurgical Development Centre, NMDC, an Agency under this Ministry, and Defence Industries Corporation of Nigeria, DICON, signals a new frontier of partnership that will boost research and promote the local production of spare parts Adegbite says.
According to the statement, the Director-General, NMDC, Prof Linus Asuquo, who led the management team to sign the MOU, the Country has a lot to gain from it.
It explains that the move will enhance skill development in the workforce and also create jobs.
“This agreement with DICON signals a new partnership that will boost research and promote the local production of spare parts and equipment.
“Ultimately the Country will save the foreign exchange it spends on importing spare parts.
“The NMDC will be looking forward to deepening this bilateral relationship with DICON for the good of our nation”, he said.
According to the NMDC boss, one of the objectives of the MOU is for both parties to establish research and innovative linkages and collaboration that will be of mutual benefit to their Agencies.