President Lays Foundation of GE’s $1b Manufacturing Facility

President Goodluck Jonathan on Tuesday laid the foundation of the General Electric’s $1 billion service and manufacturing facility in Calabar, Cross River State.

The groundbreaking ceremony followed the Memorandum of Understanding signed by the Minister of Industry, Trade and Investment, Olusegun Aganga, and the Global Chairman/Chief Executive Officer of GE, Jeff Emmelt, in January.

Represented by the Vice-President Namadi Sambo, Jonathan said the groundbreaking ceremony would not only boost the administration’s Transformation Agenda, but also further strengthen the improved confidence in the Nigerian business environment by both local and foreign investors.

He said the commencement of the project also confirmed the commitment of the Federal Government to revitalising the Nigerian economy within the lifetime of the current administration through policies and projects that would pave the way for increased production activities, job creation and wealth generation.