Economic development is a priority for most countries, but achieving it frequently requires sustained engagement from both private and public sectors. Recently, GE was named a strategic investor by Nigerian President Muhammadu Buhari, together with companies such as the Dangote Group and Samsung. In his remarks, President Buhari called on other investors to make similar strategic investors which enhance economic growth.
GE has committed to assisting the Nigerian government reach its 2020 goal to become one of the world’s biggest economies.
In 2009, GE signed a Country-to-Company (C2C) agreement with the Federal Government of Nigeria to support the financing, design and building of infrastructure and capacity across key sectors of the economy, including rail, power and healthcare.
This agreement was recently renewed for another five years at the Head of States conference in Washington, DC. GE is committed to supporting Nigeria’s Vision 2020 goals in sectors such as power generation, healthcare and transportation.
Oil & Gas
GE spends $11 million annually to service facilities in Port-Harcourt and Onne and is investing $250 million in manufacturing and assembly facilities in Calabar, Cross River State by 2018. This $250 million investment is expected to create 2,300 jobs in the local economy. An additional $750 million will be allocated to sourcing local supplies and employee training in the surrounding communities as well as expanding GE’s service facility in Onne.
The new multi-model manufacturing and services facility in Calabar will serve as a regional hub for GE Oil & Gas as well as other GE industrial businesses. The first of its kind site will include training facilities to enable knowledge transfer and career advancement opportunities for local talent.
In addition, GE is collaborating with Government Technical College, Calabar to develop academic programs to prepare students for the opportunity to work at this facility
GE has partnered with a number of local power-generation companies in Nigeria to ramp up electrical output throughout the country. The following power plants are fully operational:
Ogorode Power Plant – 451 MW available
Benin Power Plant – 451 MW available
Omotosho Power Plant – 451 MW available
Olorunsogo Power Plant – 676 MW available
Alaoji Power Plant – 451 MW available
Distributed Power is power generated at or near the point of use, on or off the grid, providing communities throughout the continent with more reliable, local energy supplies to promote greater economic development and security.
In Nigeria, distributed power technology is increasing in popularity for supporting local industrial production, thus contributing to increased employment and infrastructure. GE’s product portfolio features aeroderivative gas turbines, Jenbacher gas engines, and Waukesha gas engines ranging from 100 kW-115 MW. The business recently introduced the 2.6 MW 616 diesel engine, which has been designed for higher efficiency, more reliability and technology excellence.
GE has partnered with the Nigerian Federal Ministry of Health, the United States Agency for International Developing and others to create an innovative healthcare system to reduce preventable child-maternal deaths in Nigeria. GE has built specialised hospitals for women, and is committed to modernising the healthcare system in Nigeria with up-to-date medical equipment, with emphasis on diagnostic tools. GE is dedicated to increasing global accessibility to quality healthcare, and is investing in sustainable forms of medical technology.
In 2014, GE launched its Kujenga Sustainability programme at the World Economic Forum, Africa. The word kujenga means “build” in Swahili. GE’s approach is to empower people by building valuable skills, equip communities with new tools and technology, and elevate ideas that are helping to solve Africa’s challenges.
Nigeria is already Africa’s biggest economy. Sustaining that growth requires major investments in infrastructure, such as those already underway from GE. Through this development, Nigeria’s people can realise both economic upliftment and social benefits