Innoson Group is partnering with a consortium of Chinese investors to pump in $1billion into Nigeria’s Information and Communication Technology (ICT) sector.
According to Innoson Group, the investments include $400 million, which will be invested in Nigeria’s Digital Switch Over (DSO) project in digital satellite TV station, and an additional $600 million covering other important sectors.
According to a statement issued at the weekend and signed by the Public Relations & Media Assistant of Innoson Group, Cornel Osigwe, Vice President Yemi Osinbajo will receive the consortium of Chinese Foreign Investment Group, led by Liu Baoju, a deputy minister of communist party of China in Shandong Province, who is equally the chairman of Shandong Broadcasting Group and Shandong Cable Interactive Service Ltd, the world’s biggest TV operators.
Huang Gang, senior vice president of Inspur Group and president of its overseas headquarters, will also be present at the meeting. Inspur Group is credited to be China’s leading cloud computer solution supplier and cloud service provider involving all IT applications.
According to the statement, the Chinese visit is being facilitated by Innoson Group, Nigerian’s first indigenous and largest local manufacturer of automobiles and the largest plastic processing manufacturer in West Africa.
“This visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of $1billion and the breakdown of the investment as currently agreed by the Chinese consortium is as follows: financial foreign investment credit facility of $300million for local production and supply of a minimum 5-8million Set-Top Boxes to support the federal government’s Digital Switch Over (DSO) project being handled by the Nigerian Broadcasting Commission (NBC) in order to meet the deadline switch of June 2017; foreign investment of $100million to establish the latest technology and biggest Direct-To-Home(DTH) Digital Television Station across all states of Nigeria”, it further stated.
” In addition, the two above immediate investment is being followed by another $600 million investment in which negotiations is almost fully concluded with our strategic partners to cover Smart City closed-circuit television camera (CCTV camera) using cloud computing total solution that is known as E-Policing to cover the whole landmass of Nigeria; Cloud Computing Total Solution on Taxation with IT applications for such institutions as Federal Inland Revenue Service (FIRS) and other taxation agencies for seamless and stress-free tax collection mechanism and e-Education IT solutions with big data centers for all Federal Universities and Polytechnics in the country,” the statement read in part.
Meanwhile, Innoson Group as a trailblazer has decided to be part of history as one of the companies that will take Nigeria into the digital world. In order to keep up with its trend of opening new grounds, it has decided to diversify into Information Technology (IT) and the Multi Media Sector with the plan to launch a Satellite Digital TV operation and other services in partnership with Shandong Broadcasting Group and Shandong Cable Interactive Service Limited, China with technical support from Inspur Group Co Ltd, China. Inspur Group is China’s leading cloud computer solution supplier and cloud service provider.
Credit: All Africa