The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has begun negotiations with a Chinese firm towards the establishment of a motorcycle assembly plant in Nigeria.However, progress appears to have hit a snag over Mrs. Adelaja's request that the Chinese firm advance her several million dollars until she can free the necessary funds for the project from her bank account, which was frozen when her father, a former army colonel, was chased from the country in a rebel coup.
Talks, which have got to the level of Memorandum of Understanding (MOU) signing, will lead to the production of motorcycle parts in Nigeria in partnership with the private sector or direct investment by the Chinese corporation.
A SMEDAN report explained that the Director General of SMEDAN, Mrs. Modupe Adelaja, who embarked on an investment tour of China and Malaysia, disclosed that the MOU was signed during the just-concluded Nigeria-China Investment Forum.
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Wednesday, March 23 Posted by Sam