President Bola Tinubu officially signed the Defence Industries Corporation of Nigeria (DICON) bill into law, as confirmed by presidential spokesperson Anjuri Ngelale in a released statement.
The DICON bill, initially enacted in 1964 and later revised as the DICON Act in chapter 94 of the laws of the federation in 2004, has undergone significant changes with the signing of the new legislation. The updated law empowers the defence corporation to engage in the manufacturing, storage, and disposal of ordnance.
Ngelale explained that the newly signed bill not only repeals and replaces the original law but also introduces key provisions to enhance the capabilities and scope of DICON. The legislation establishes the Defence Industry Technology, Research, and Development Institute (DITRDI), aimed at building a robust scientific and research-based technological foundation for Nigeria’s defence industry. This involves leveraging multidisciplinary research from various military institutes to drive commercialization and the development of new military technology and capacity within Nigeria.
The statement released by Ngelale outlined the core features of the bill, including the creation of a comprehensive regulatory framework for overseeing the manufacturing, distribution, storage, and disposal of defense articles in Nigeria. Additionally, the legislation is designed to incentivize the development of a nuanced financing architecture, allowing private capital to contribute to research, development, and production in the defense sector in a transparent and predictable manner.
The ninth National Assembly, under the leadership of former Senate President Ahmad Lawan, played a pivotal role in passing the bill before it reached President Tinubu’s desk for approval. Last week, Deputy Speaker of the House of Representatives, Benjamin Kalu, had appealed to President Tinubu to sign both the defence corporation and army trust fund bills into law, emphasizing their significance in bolstering the nation’s defense capabilities.
