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Wednesday, June 19, 2013 09:53 AM |
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Govt Inaugurates $1b Power Facility In Cross River |
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Source: Guardian
THE Federal Government, Tuesday, flagged-off the construction of the General Electric’s (GE’s) $1 billion (about N160 billion) multi-model power manufacturing and services facility in Calabar, Cross River State.
Specifically, the investment, which involved $250 million capital expenditure and over $800 million incremental spending on local sourcing of goods and services, would create 2,300 jobs and make Nigeria the regional hub for GE’s manufacturing service and renovation in Africa.
The project, which followed the Memorandum of Understanding (MOU) signed between the American firm and the Federal Government in January, is expected to provide additional 4,000 mega watts to the national grid by the end of the year..
President Goodluck Ebele Jonathan, who officially laid the foundation stone at the ground breaking ceremony in Calabar, said by the project, GE has proven to be a strategic partner in the ongoing transformation programme of the Federal Government, particularly in the power sector.
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Wednesday, June 19, 2013 09:46 AM |
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Power Reform Will Boost Industrialisation - Minister |
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Source: Daily Trust
Minister of Justice and Attorney-General of the Federation, Mohammed Adoke has said the ongoing power reform in the country would stimulate industrialization in Nigeria.
The minister disclosed this in Lagos at the opening ceremony of the 7th Annual Conference of Section on Business Law of the Nigerian Bar Association(NBA).
He said the federal government is desirous of conducting the exercise in transparent manner in line with world best practice.
He said government is also doing its best to facilitate inflow of investments into Nigeria in line with its transformation agenda..
To this end, he said his ministry is collaborating with the Ministry of Trade and Investment and other stakeholders to simplify the legal requirements in doing business in Nigeria.
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