Defences Industries Corporation Signs $2bn Partnership With SP Offshore
In a bid to revive Defences Industries Corporation of Nigeria(DICON) and boost local production, the Director General (DG) DICON and the Chief Executive Officer (CEO) SP Offshore Nigeria Limited on Wednesday, July 16, 2025 signed a Partnership Agreement and unveiled a 2 Billion Dollars investment plan to boost local sufficiency in manufacturing of the defence needs of the Armed Forces and other security agencies.
This was contained in a statement signed by the Deputy Director Public Information/Media, Lieutenant Colonel Haruna Mohammed Sani and made available to Core Reporters on Wednesday.
The DG DICON, Major General Babatunde Ibrahim Alaya, while speaking during the ceremony affirmed that the partnership would achieve the Federal Government projection of achieving self-sufficiency in defence manufacturing while reducing foreign importation by the year 2027 as outlined in the DICON Act 2023.
General Alaya added that the collaboration would not only strengthen Nigeria’s defence capabilities but also position the Country as a regional leader in defence production with the potential for exporting excess capacity to other African nations.
“The historic partnership marks a transformative step towards achieving Nigeria’s vision of robust military-industrial complex” DG DICON said.
General Alaya further stated that with SP Offshore’s advanced technological capabilities and its backing by foreign investors, the partnership would produce world class defence equipment manufactured locally while ensuring self-sufficiency to support regional security.
He added that leveraging SP Offshore’s cutting-edge expertise and DICON established infrastructure, the joint venture would enhance Nigeria’s military capabilities, create jobs and drive technological innovation. The DG DICON thanks the President C-in-C of the Armed Forces of Nigeria, President Bola Ahmed Tinubu, for signing the DICON Act 2023, which allows DICON to enter such partnership. He also appreciated the HMOD, the HMOSD, CDS and Service Chiefs, for their continuous support to DICON.
Also speaking, the Group Chief Executive Officer Mr Obafemi Adekunle asserted that the partnership would also establish state- of the -art production facilities in Nigeria for the production of ammunition, small arms, drones and advanced defence systems tailored to the needs of the Armed Forces of Nigeria and other security agencies.
He further said that the joint venture will also focus on establishing assembly lines for ammunition, weapons, drones, radars, biometric systems and other critical defence equipment.
SP Offshore Nigeria Limited is a global leader in defence technology, specialising in the development and manufacturing of advanced military equipment, including drones, weaponry and integrated defence systems to enhance national security and operational effectiveness.
