The Federal Government has reiterated its commitment to revitalise the Nigerian economy through policies and projects that would pave way for increased production activities, job creation and wealth generation.
President Goodluck Jonathan stated this at the inauguration of the General Electric’s (GE) $1bn (N158 billion) service and manufacturing facility in Calabar, Cross River State.
Jonathan said the groundbreaking ceremony would not only give a fine boost to his administration’s transformation agenda, but would further strengthen the improved confidence in the Nigerian business environment by both local and foreign investors.
The president, according to a statement by Yemi Kolapo, senior special assistant to the minister of industry, trade and investment, Olusegun Aganga, therefore assured new and prospective investors, both local and international, that Nigeria’s power sector remains a veritable viable market for investment.
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“I will also like to assure our strategic partners and investors of continued government support in making the emerging market place conducive for business”, he said.
Jonathan, who was represented by the Vice President Namadi Sambo, said that GE’s investment was a result of the confidence the company had in Nigeria’s economy.
In his remarks, Aganga said the groundbreaking further demonstrated that the current administration was not just interested in investment commitments, but in monitoring the processes to the execution stage.
The minister noted that GE had, over the past 125 years, swiftly evolved to seize new opportunities created by changes in technology and the economy as a frontline multi-business organisation.
He said, “It is therefore not surprising that the company has moved smartly to explore the favourable investment opportunities that abound in Nigeria. Today, the company is building new platforms in industries and markets with GDP growth that provide opportunities to apply acquired technology and management expertise to accelerate development and growth in both developed and emerging economies”.
“The decision made in recognising the potential of Nigeria becoming your base, where other African countries would be served, will give a greater opportunity to demonstrate your innovation capabilities and home grown solutions to other African countries’ problems.
