A United Arab Emirates-based investment firm, Elmirate Investment LLC, has committed up to $200 million to develop defence technology, satellite systems and advanced manufacturing capabilities in Nigeria.
The firm, also known as Elmirate Capital, announced the planned investment on Monday after signing a strategic memorandum of understanding with Nigerian firm, Nigus International Investment Limited.
The initiative is expected to support Nigeria’s efforts to boost local defence production, expand technological capabilities and reduce reliance on imported security equipment.
According to the companies, the project will operate within Nigeria’s regulatory framework under the Defence Industries Corporation of Nigeria and in alignment with the provisions of the DICON Act 2023.
The collaboration will be implemented through a newly created special purpose vehicle, Nigus Tactical Systems Ltd, which will serve as the central platform for investment, technology integration and operational development.
“Our planned commitment of up to $200 million reflects strong confidence in Nigeria’s economic potential, said Managing Director of Elmirate Capital, Pankajj Ghode.
“By connecting our global network of defense, cybersecurity, aerospace and advanced technology partners with local expertise, we aim to support the development of a resilient ecosystem that drives industrial growth and strengthens regional stability,” he added.
Executive Chairman of Nigus International, Prince Malik Ado-Ibrahim, said the partnership is designed to build an industrial platform capable of supporting Nigeria’s national security and technological development.
He noted that Africa is entering a phase where technological capability will increasingly shape both economic strength and national security.
“Through this partnership we are working to build a platform in Nigeria that supports innovation, advanced manufacturing and meaningful technology transfer,” he said.
