Arab Finance: The Arab Organization for Industrialization (AOI) signed a memorandum of understanding (MoU) with Nigeria-based defense company Vinicius to strengthen industrial integration and cooperation in defense manufacturing, as part of efforts to expand partnerships with African countries and support export growth, as per a statement.
Mokhtar Abdel Latif, Chairman of the AOI, said the agreement aligns with directives from President Abdel Fattah El-Sisi to deepen industrial and economic cooperation with African countries and open new avenues for regional integration.
According to Abdel Latif, the two sides agreed to cooperate in meeting part of the requirements of Nigeria's Ministry of Defense. He noted that Vinicius is among Nigeria's largest private-sector companies operating under a license from the Defence Industries Corporation of Nigeria (DICON).
He added that the partnership aims to strengthen strategic cooperation through technology localization, technical knowledge transfer, increased local manufacturing content, and the training and qualification of Nigerian personnel in manufacturing and maintenance activities. The initiative will leverage the AOI's industrial capabilities and training academies.
Abdel Latif said the parties also agreed on implementation mechanisms and timelines for projects of mutual interest, while working to expand exports to African and Arab markets through government contracts.
He further highlighted the strong relations between Egypt and Nigeria, stressing the importance of continued coordination and cooperation in defense and civilian industries, as well as participation in development projects in Nigeria.
During a tour of the AOI's product exhibition, CEO of Vinicius Saifullahi Babangida and members of the Nigerian delegation praised the quality and development of the organization's defense and civilian products. They reaffirmed Nigeria's interest in expanding cooperation with the AOI to localize advanced manufacturing technologies, increase local production capabilities, and reduce reliance on imports by utilizing the manufacturing capacities of both sides.
The AOI said exports remain a strategic priority and that the organization continues to pursue partnerships and investment opportunities in line with Egypt's Vision 2030 sustainable development goals.
