The Federal Government has commended the positive progress and proactive measures taken by General Electric (GE) in keeping with the Memorandum of Understanding (MoU) and partnership she made with the company.
The Vice President, Mohammed Namadi Sambo, made the commendation Friday during a courtesy visit by the Global General Manager and Chief Executive Officer (CEO) of GE, Mr Jeff Immelt and other global partners at the State House, Abuja .
Sambo said President Goodluck Jonathan, himself and all Nigerians are “interested to seeing that partnership with the company succeeds”, pledging that “all cooperation needed would be provided for the company to succeed in its operations in the country”.
He commended the GE for engaging other Nigerians and global partners to ensuring that the noble objective of developing the country’s energy and other sectors are achieved, noting that the next step taken by the company in getting financial support was the right step.
The VP said “Financing is a major aspect needed to open the gate of development in this country. Various factors are needed to be addressed, for example the power and transport sectors, and financing is needed”.
He said the Federal Government is organising a global conference on financing the power sector under the aegis of National Council on Privatisation, to be held in February 2014, comprising the World Bank, African Development Bank, Islamic Development Bank, Export-Import Banks and invitation had already been sent to the company and others in the power sector.
He further commended GE for already brining $350 million to finance its operations in the country, saying “this has proved the confidence GE has for the Nigeria” and the effort and support GE is making to develop Small and Medium Enterprises in the country, saying this will go a long way in addressing the programme of job creation and creates more market for the power sector.
While commending the company for the money it has brought to develop the power sector and small businesses in the country, Sambo urged the company to also look into the enormous advantages in the gas sector.
Earlier, the Minister of Trade and Investment, Olusegun Aganga, said the meeting with GE and other global partners was as a result of FG’s country to country programme with the GE which a billion dollar MoU was signed more than a year ago, for assembling of turbines in the power and other sectors, he said that agreement also involved assembling of locomotives in the country and investment in the healthcare sector.
The Minister recalled that ground breaking ceremony of that agreement was performed in Calabar last June and GE’s $350 million had brought development and today the company has started to bring in its supply chain into the country.
In his remark, the GE’s Global Chairman, and CEO, Mr. Jeff Immelt, commended in the Federal Government for the support the company has received pledging that the company would engage in several aspects of the country’s economy for example the power sector – the NIPP programme; oil and gas, healthcare programmes and would work with Nigerian partners on other segments of their programme.
GE attended the meeting with CEOs of nine other companies and seven partner companies from Nigeria including the Minister of Power, Prof. Chinedu Nebo.
