The Chief Executive Officer (CEO), DICON Dana Tactical Limited, Jacky Hathiramani, has said the $100 million joint venture investment in Nigeria’s indigenous defence manufacturing sector was a strategic initiative to strengthen national security, promote industrial development and reduce dependence on imported military equipment.

Hathiramani, who commended the Ministry of Defence for its foresight in supporting local defence production, said the investment would create opportunities to expand domestic manufacturing capacity, support the operational requirements of the Nigerian Armed Forces and strengthen local supply chains.

Hathiramani stated these yesterday in a statement made available to the media.

According to him, a nation’s defence capability depended not only on the equipment it acquired, but also on its ability to manufacture, maintain and sustain critical military hardware within its borders.

Also, he lauded the Minister of Defence, General Christopher Musa and the ministry for their confidence in the initiative, describing the partnership as an important step towards building a more self-reliant defence industry.

He further commended President Bola Tinubu for his commitment to improving the welfare of the Armed Forces and providing the equipment required to discharge their operational responsibilities.

He maintained that the Federal Government’s focus on developing indigenous capacity across critical sectors showed a vision of building an industrialised economy capable of meeting more of its strategic needs locally.

He said: “We appreciate the Ministry of Defence’s confidence in this initiative and commend the President’s commitment to strengthening Nigeria’s capacity.

“This partnership presents an important opportunity to support our Armed Forces, develop local manufacturing expertise and build the industrial capabilities required to advance national security.”

He noted that the joint venture was expected to contribute to Nigeria’s efforts to expand its domestic defence industrial base through local production, technology transfer and skills development.

Hathiramani emphasised that DICON Dana Tactical Ltd was established as a joint venture to strengthen Nigeria’s defence manufacturing capacity, with a focus on the local production of military vehicles, specialised vehicles and security equipment.

The partnership combines Dana Motors’ automotive expertise with international partnerships to develop domestic manufacturing capabilities, facilitate technology transfer and support Nigeria’s long-term national security and industrial development objectives.