Section 3: Establishment of the Defence Industry Corporation of Nigeria.

(1) There is established the Defence Industries Corporation of Nigeria ("the Corporation").
(2) The Corporation shall be a holding company, wholly state-owned, with equity of varying degrees in several defence and aerospace subsidiaries and associated companies.
(3) The Corporation-
(a) shall be a body corporate with perpetual succession, a common seal;
(b) may sue and be sued in its corporate name; and
(c) may own, acquire or dispose of property, whether movable or immovable, for the purpose of performing its functions under this Act.