Nigeria is set to begin exportation of heavy-duty metal products and other automotive spare parts as Zeetin Engineering, a Nigerian firm pioneering the manufacture of electric cars and other vehicle spare parts has signed an export Memorandum of Understanding (MoU) with a Turkish-American company, JMT Limited.
The agreement signed in Abuja between the two firms recently will enable JMT to export Zeetin products to African and international markets.
Zeetin, a Nigerian precision engineering company, is into manufacturing heavy-duty metal products, car engines and spare parts used in the aviation, construction, railway, marine, oil and gas, automotive, and agriculture industries while JMT is an international machine-making company and supplier of machines and other products across the world.
Speaking on the significance of the MoU, the Managing Director of Zeetin, Azibaola Robert, described the partnership as significant, adding: ‘It is indeed a breakthrough for us as a country because this is the first time a Nigerian engineering and manufacturing company will start exporting heavy-duty metal products, spares to the international market.
‘In addition, this collaborative effort between us and JMT will catalyse Nigeria to a net technology exporting country and also save the country valuable foreign exchange. It will boost our economy, create more jobs as well. So, overall, Nigeria will be the ultimate beneficiary,’ Robert added.
The Chairman of JMT, Serhan Yazicilar, expressed the hope that the agreement would further strengthen the company’s business relationship with Zeetin Engineering, which he described as a dependable partner in the engineering and technology industry, especially in Nigeria.
The symbiotic relationship will enable Zeetin to leverage on JMT’s network of customers to sell its products across Africa, the Middle East, Europe and Asia – in countries like Cameroun, Turkey, Saudi Arabia, United Arab Emirates, Algeria, Ghana, Morocco, and India; while JMT will be exporting machine, electrical and electronic parts to the Nigerian firm.
Under the MoU, the Turkey-based company will supply Zeetin with sensitive spare parts for automotive products, act as the technical partner for the Nigerian company as well as collaborate with it in the design and manufacture of vehicles.
The synergy between the two engineering and manufacturing companies also covers the areas of expertise, capacity-building, marketing, manpower development, engineering and technology advancements, research and development.
ZEETIN and JMT have been collaboratively doing business together for a while, with JMT supplying various machines to Zeetin’s factory located in the Idu Industrial Area of Abuja.
The MoU is for an initial period of six years, commencing in August 2022, and is subject to renewal after the first tenure.