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EMVC SECURES $275 MILLION FDI PARTNERSHIP WITH CRRC, REVVING UP NIGERIA’S ELECTRIC VEHICLE REVOLUTION_
In a groundbreaking move, Nigeria has taken a significant leap towards becoming a hub for electric vehicle innovation and excellence in Africa. Electric Motor Vehicle Company (EMVC), a Nigerian electric mobility firm, has secured a $275 million Foreign Direct Investment (FDI) agreement with CRRC, a leading Chinese conglomerate.
This historic deal aligns perfectly with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes industrialization, infrastructure development, and sustainable technologies to drive economic growth and prosperity. By attracting foreign investment in the electric vehicle sector, Nigeria is poised to create new opportunities for employment, particularly for the youth who are desperately in need of jobs. This partnership is expected to generate thousands of direct and indirect jobs, thereby reducing the unemployment rate and empowering the youth to contribute meaningfully to the economy.
Furthermore, this deal will help reduce the pressure on the Naira by increasing foreign exchange earnings through the export of electric vehicles and components. This will not only stabilize the currency but also improve the country’s balance of payments position. Additionally, the partnership will promote the transfer of technology and skills, thereby enhancing Nigeria’s capacity to innovate and compete globally.
Prince Mustapha Audu, CEO of EMVC, hailed the partnership as a watershed moment for Nigeria’s automotive sector, stating, “This momentous deal will ignite Nigeria’s electric vehicle revolution, propelling us to the forefront of Africa’s sustainable transportation landscape and establishing us as a beacon of innovation and excellence.”
CRRC CEO Ye Lizhang expressed enthusiasm about the partnership, stating, “We are thrilled to collaborate with EMVC, contributing to Nigeria’s sustainable transportation vision and expanding our global footprint through international cooperation.”
This historic agreement solidifies EMVC’s position as a vanguard in Africa’s mobility industry, revolutionizing the continent’s transportation ecosystem with cleaner, greener solutions. By aligning with President Tinubu’s Renewed Hope Agenda, Nigeria is poised to make significant strides towards achieving its 2060 Net Zero ambition, while driving economic growth and prosperity for its citizens.
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NSF: Oparaoji, Ekpeyong, Quadri Gear Up for Tough Quarterfinal Clashes in Abeokuta
Joel Ajayi
The tennis courts at the ongoing National Sports Festival in Abeokuta are buzzing with intensity as the competition hits the quarterfinal stage in both the men’s and women’s singles events, following a gripping round of 16.
Men’s Singles Quarterfinals:
Abubakar Yusuf of FCT will square off against Rivers State’s Abua Canice. Yusuf booked his spot with a 4-0, 4-2 win over Ehigiamusoe Endurance of Edo, while Canice cruised past Azi David 4-1, 4-0.
Bayelsa’s Uche Oparaoji faces Adeleye Daniel of Ekiti in a clash of skill and strategy. Oparaoji outclassed Urenyang Nuhu of Taraba 4-1, 4-2, just as Adeleye powered past Kaduna’s Ibrahim Sulaiman with the same scoreline.
In one of the most anticipated ties, Danjuma Lucky (FCT) will lock horns with Bayelsa’s top seed David Ekpeyong. Danjuma came through a thrilling contest against Ekiti’s Abamu Matthew, rallying to win 1-4, 4-2, 10-5, while Ekpeyong dominated Taraba’s Rubi Toba 4-0, 4-2.
Home favourite Christopher Bulus of Ogun will battle Edo’s Michael Chima for a semifinal ticket. Bulus swept past Rivers’ Timibra Godsgift 4-1, 4-0, while Chima triumphed over Delta’s Iloputa Ikechukwu in a straight-set win.
Women’s Singles Quarterfinals:
Delta’s Barakat Quadri, fresh off a 4-1, 4-0 win over Rebecca Ekpeyong of Bayelsa, will face rising star Emmanuel Bright of the IJA (Invited Junior Athletes), who overcame Rivers’ Maxwell Timipre 4-2, 5-3.
Edo’s Omotayo Blessing will battle Akwa Ibom’s Udoffa Mary in what promises to be a fiery encounter. Omotayo brushed aside Ekiti’s Adeusi Jesutoyosi 4-0, 4-1, while Udoffa outplayed Moses Favour of Kaduna 5-3, 4-0.
Elsewhere, Ogunjobi Success of Ekiti will test her mettle against Aina Goodnews of IJA, and Akwa Ibom’s Etoro Bassey faces Ogun’s Yakubu Ohunene in a South-South vs South-West showdown.
With the quarterfinals locked in, tennis fans are in for a thrilling ride as the battle for medals intensifies under the Abeokuta sun.
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