Tinubu signs Nigerian Defense Industries Corporation Bill
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President Bola Ahmed Tinubu has signed the Defense Industries Corporation of Nigeria (DICON) Bill 2023.
Tinubu’s spokesperson, Ajuli Ngerale, made the announcement in a statement on Thursday.
The bill was introduced by House Defense Committee Chairman John Johnson. Babajimi Benson (APC—Ikorodu Federal Constituency).
According to Ngerale, the DICON Bill 2023 repeals the previous version of the Nigeria Defense Industries Corporation Act and provides DICON with the ability to operate, maintain and control subsidiaries and ordnance factories to manufacture, store and dispose of ordnance, auxiliary warehouses and materials. It is empowering. .
Mr. Ngerare noted that the bill also establishes the Defense Industrial Technology Research and Development Institute (DITRDI) to build a sophisticated scientific and research-based technology infrastructure for Nigeria’s defense industry.
“Establishment of the Defense Industrial Technology Research and Development Institute (DITRDI) to leverage combined interdisciplinary research from multiple military research institutes to build a sophisticated scientific and research-based technology infrastructure for Nigeria’s defense industry. and its application in the commercialization and development of new military technologies and capabilities in Nigeria,” Ngerale said.
Further, he disclosed that the DICON Bill 2023 also provides a comprehensive regulatory framework for the regulation of the manufacture, distribution, storage and disposal of defense articles in Nigeria.
According to presidential aides, the bill also encourages the development of nuanced financing structures that allow private capital to foster defense research, development and production in a transparent and predictable manner.
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Source: guardian.ng