GE and the Federal Republic of Nigeria Ink Infrastructure Development Pact

General Electric Company and the Federal Government of Nigeria announced the signing of a "company-to-country" agreement aimed at promoting collaboration between GE and Nigerian public and private sector organizations that are driving critical infrastructure projects across the country.

Nigeria's Attorney General and Minister of Justice Michael Kaase Aondoakaa and GE Vice Chairman John Rice, signed the agreement at a ceremony held in Abuja, Nigeria. It encourages active collaboration between the two parties to use technologies and solutions in a way that enhances economic development and competitiveness of the Nigerian economy. According to a release, it is the first agreement of its kind for both the Federal Republic of Nigeria and GE.

The agreement strengthens Nigeria's existing commercial relationship with GE, expanding the possible opportunities to include railway infrastructure development and rehabilitation, oil and gas processing, distribution and transportation, electric power generation, water and wastewater treatment, healthcare, aviation and integrated safety and security systems.

The GE delegation also held talks with President Umaru Yar'Adua at the Presidential Villa in Abuja. The President said the partnership with GE was aligned with Nigeria's goals for growth - "GE's leadership technology and management processes will help Nigeria meet the challenges before us and enhance our investments in critical infrastructure. This will result in macroeconomic stability and successful infrastructure development across the nation," said President Yar'Adua.

"GE has enjoyed an excellent relationship with Nigeria for many years, providing support to the nation's infrastructure strategy. This agreement would further strengthen our long standing relationship with Nigeria and is part of our contribution towards meeting the country's Vision 2020," said Rice. "This partnership will also give GE the opportunity to strengthen our own local capabilities, enhancing our ability to serve the Federal Republic of Nigeria as the nation drives its technology and education strategies."

"Nigeria is focused on fostering stable, healthy and safe communities for its citizens," said the Attorney General and Minister of Justice. "A partnership with GE will enable Nigeria to leverage their infrastructure competencies and drive both better economic and employment opportunities for Nigeria's future," said Aondoakaa.

In addition to leveraging GE's infrastructural competencies, the two parties are agreeing to explore creating technical and managerial employment opportunities for Nigerians as well as bring GE's management and leadership training to Nigeria's business community who will drive the next wave of high-growth opportunities for the country. In addition, another focus will be joint initiatives designed to heighten Nigeria's reputation globally through a solid compliance and integrity program.

The agreement also envisions cooperation in the establishment of an investment framework that will position Nigeria as a regional export center for GE's infrastructure technologies.

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