After $34 million raise, Terra Industries joins DICON to boost Nigeria’s defense sector

Right after closing a $34 million funding round, Terra Industries, a Nigerian startup focused on defense technology, has sealed a deal with the Defence Industries Corporation of Nigeria (DICON) to form a Joint Venture Company. The move aims to expand local defense production, create skilled jobs, and position Nigeria as a regional hub for high-tech defense manufacturing.

Nigeria advances defense tech locally

The agreement sets out a framework for local production, assembly, research, and training in advanced systems such as drones, cybersecurity tools, robotics, and other defense hardware and software platforms. Terra Industries said the deal will reduce reliance on imports, boost regional supply chains, and support the growth of Nigeria’s industrial base over the long term.

The Joint Venture Company will operate as a subsidiary of DICON and will be jointly owned and promoted by both parties. It is expected to establish advanced production and assembly lines for high-tech equipment, promote technology transfer, and provide specialised training for Nigerian personnel. 

Terra Industries brings expertise, training support

The partnership also prioritizes sourcing raw materials locally, improving domestic industrial capacity, and supplying security equipment to Nigerian security agencies and other authorized institutions. Terra Industries will provide technical expertise, manage procurement of production equipment, coordinate training programs, and offer access to manufacturing know-how, tooling, spare parts, and established supply chains.

Speaking at the signing ceremony, Maj. Gen. B.I. Alaya, Director General of DICON, called the partnership “a transformational step toward strengthening Nigeria’s defense manufacturing base, reducing import dependence, and positioning Nigeria as a regional hub for advanced innovation.” Nathaniel Nwachukwu, CEO of Terra Industries, said the agreement “demonstrates confidence in indigenous Nigerian engineering capability and creates a platform for sustainable defense technology development, innovation, and export competitiveness.”

Autonomous systems protect $11 billion assets

Founded in 2024 by Nathan Nwachuku and Maxwell Maduka, Terra Industries develops autonomous defense systems for land, air, and maritime operations. Its technology is already deployed at key sites across Africa. The company operates a 15,000-square-foot facility in Abuja and plans to expand teams in San Francisco and London.

Terra Industries’ latest funding round, which included a $22 million extension led by New York venture capital firm Lux Capital and an earlier $11.75 million raise, will support manufacturing expansion, increase deployments, grow engineering and business teams, and enhance surveillance and response capabilities. The startup currently protects $11 billion in national assets across Africa.