Business & Finance

GE to Fund Nigerian Railway Projects With $2bn – Amaechi

General Electric

Nigeria’s Transportation Minister, Rotimi Amaechi has stated that American conglomerate, General Electric is set to invest $2bn in Nigeria’s economy.

Speaking in an interview on CNBC, Amaechi said the Federal Government was in search of Public-Private Partnership, PPP, funding in the Nigerian transportation sector.

“GE is already in, we are trying to get the government agencies to allow us negotiate with GE. The company is going to bring in over $2billion in the Nigerian railway sector, in which they are going to revive the Lagos-Kano narrow gauge and revive the Port Harcourt-Maiduguri narrow gauge by private investment,” he said.

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“It is good that such kind of funds will come into the economy, it will create employment, it will increase business and everybody will be part of the process,” Amaechi added.

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