Defence Industries Corporation of Nigeria (DICON) has entered into a groundbreaking $2 billion partnership with SP Offshore Nigeria Limited to locally manufacture critical military hardware, including drones, ammunition, small arms, and advanced defence systems.
At a landmark signing ceremony, the Director General of DICON, Major General Babatunde Ibrahim Alaya, and the Group CEO of SP Offshore, Mr. Obafemi Adekunle, sealed the most significant defence-industrial investment in Nigeria’s post-independence history.
He said the partnership will see the establishment of state-of-the-art production facilities across Nigeria, capable of designing, assembling, and producing next-generation military equipment tailored to the specific needs of the Armed Forces of Nigeria and allied security agencies.
Major General Alaya added that this marks a major pivot away from decades of heavy reliance on foreign imports.
The Director General of DICON expressed appreciation to President Bola Ahmed Tinubu, for signing the DICON Act into law, which provides the legal framework for such public-private defence collaborations.
He also lauded the unwavering support of the Minister of Defence, the Minister of State for Defence, the Chief of Defence Staff, and all Service Chiefs.
Speaking at the event, CEO of SP Offshore, Mr. Obafemi Adekunle, described the agreement as not just an investment, but a nation-building project, saying that they are building world-class capabilities that will create jobs, drive local innovation, and export Nigerian-made defence products across Africa.
He said the project is also expected to generate thousands of direct and indirect jobs while fostering a robust ecosystem of local suppliers, engineers, and defence tech innovators.
