BrandArena: GE Restates Commitment to $1 Billion Investment Agreement in Nigeria

Thursday 2 May 2013

GE Restates Commitment to $1 Billion Investment Agreement in Nigeria

General Electric Company, a global technology leader in energy, health and rail transportation once again reiterated its commitment to fulfilling its pledge to invest $1 Billion in Nigeria’s energy sector.

The company restated this commitment though its President and CEO, Jay Ireland when it hosted potential suppliers of services under the aegis of the Petroleum Technology Association of Nigeria (PETAN), to an engineering conference at the Transcorp Hilton Hotel, in Abuja on Monday April 15. The event is the second of such meant to kick-start preparations towards actualizing GE’s investment, whose first edition took place in Lagos.

According to him, General Electric also remains committed to meeting the requirements of Nigeria’s local content policy with a significant increase in the employment of more Nigerians in the global company, and plans to set up a training programme for the recruited staff in order to build capacity and capability. “GE is making these investments using its own capital; we are not financing this through a venture capital company, and this shows how much we believe in the potential here in Nigeria,” Ireland said.

He said the Engineering Fair was aimed at bringing together companies with the potential to offer the technology services required to kick start the $1 Billion investment commitment made by GE to the Federal Government. His words: “GE is working towards unleashing the full compliments of its capabilities in Nigeria in order to see the country become a base to serve the technological service needs of West Africa when it comes to manufacturing and servicing of parts.”

President of PETAN, Mr. Emeka Ene who was represented by Mr. Pedro Egbe, the Managing Director of WELTEK noted that developing local content capabilities in technology and manufacturing rests on building sustainable partnerships with organizations like GE. “This partnership between GE and PETAN is a strategic supply chain agreement for the growth of local content, products and services in the oil and gas industry. GE is coming with a new perspective of building a truly Nigerian operation and we at PETAN believe that this relationship will help provide the needed avenue to actualize development in the industry,” he said.

1 comment:

  1. This is great, hope this becomes the change we are all looking forward to.