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FG, GE Seal $1bn Dev Deal …Rivers, C’River To Benefit

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The Federal Government yesterday signed a Memorandum of Understanding (MOU) with General Electric Company to invest $1billion (N158 billion) in assembly and manufacturing facilities in Nigeria.

Minister of Trade and Investment, Mr Olusegun Aganga,  signed on behalf of Nigeria while, GE Chairman and global CEO,  Jeff Immelt, signed on behalf of the company.

General Electric , a United States Company, is a global leader in energy, health and rail transportation.

The facility is to be located in Calabar, Cross River State with service workshops at Port Harcourt and Onne, Rivers State.

The investment plan, according to Aganga, would have an initial $250 million capital expenditure and over $800 million incremental spending for the next five years and  is expected to create 2,300 jobs.

“GE’s size of investment, which is $250 million, for the outset, and $1 bilion over the next five years, is significant in every respect.

“It is far more important because the investment is in critical areas of our economy, which is power infrastructure.

“This investment will support our Industrial Revolution Plan, which is based on the areas where we have competitive and comparative advantage,” he stated.

Aganga commended GE for its commitment to supporting Nigeria’s industrialisation plan and vision 202020 of making the country one of the top twenty best performing economies by year 2020.

He said “the key socio-economic imperatives that will be delivered by this investment are numerous such as job creation, skill development.

“Also, technology transfer and local content generation are at the core of the government’s economic development strategy“.

GE Chairman and global CEO, Jeff Immelt, in his remarks said “the planned investment will make Nigeria hub for manufacturing, service and innovation.

He said it would create an improved ability to support a broader range of product lines in power generation as well as oil and gas exploration and production“.

The investment is expected to create 2300 jobs, 300 of which will be direct GE hires and the remaining 2000 indirect jobs created through suppliers that will support the expanded programme.

He said Nigeria will make up 90 per cent of the staff and management of the planned manufacturing facility, while local supplier base is expected to increase 100.

The company spending on locally sourced goods and services according to him “ is expected to increase from $4 million to over $60 million“

The CEO said “GE also plans to build a training facility on its manufacturing site to ensure ongoing employee development.

“ The company will provide one year to four year training programmes locally and internationally for repair engineers, welders, fabricators, machinists and special processing.

Acting Governor of Cross River State, Mr Effiok Cobham, who described the investment plan as a welcome development, said the state would do everything possible to ensure its sustainability.

He said the plan was part of government efforts in attracting foreign investors to the country.

“We shall continue to make Cross River a safe state for investors”, he added.

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FG Ends Passport Production At Multiple Centres After 62 Years

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The Nigeria Immigration Service has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.

Minister of Interior, Dr Olubunmi Tunji-Ojo, disclosed this yesterday while inspecting Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja.

He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.

“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.

He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.

“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.

 “We promised two-week delivery, and we’re now pushing for one week.

“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.

He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.

Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.

He said the centralised production system aligned with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for better service delivery.

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FAAC Disburses N2.225trn For August, Highest In Nigeria

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The Federation Account Allocation Committee (FAAC) has disbursed N2.225 trillion as federation revenue for the month of August 2025, the highest ever allocation to the three tiers of government and other statutory recipients.

This marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.

The revenue, shared at the August 2025 FAAC meeting in Abuja, was buoyed by increases in oil and gas royalty, value-added tax (VAT), and common external tariff (CET) levies, according to a communiqué issued at the end of the meeting.

Out of the N2.225 trillion total distributable revenue, FAAC said N1,478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.

The communiqué revealed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds, and savings.

From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 per cent of mineral revenue) went to oil-producing states as derivation revenue.

From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the states received N336.452 billion, while the local governments got N235.516 billion.

Of the N32.338 billion shared from EMTL, the Federal Government received N4.851 billion, the States received N16.169 billion, and the Local Governments received N11.318 billion.

From the N41.284 billion exchange difference, the Federal Government received N19.799 billion, the states received N10.042 billion, and the local governments received N7.742 billion, while N3.701 billion (13 per cent of mineral revenue) was shared to the oil-producing states as derivation.

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KenPoly Governing Council Decries Inadequate Power Supply, Poor Infrastructure On Campus

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The Governing Council of Kenule Beeson Saro-Wiwa Polytechnic, Bori, has decried the inadequate power supply and poor state of infrastructural facilities and equipment at the institution.

The Council also appealed to the government, including Non-Governmental Organisations, agencies, as well as well-meaning Rivers people to intervene to restore and sustain the laudable gesture, dreams and aspirations of the founding fathers of the polytechnic.

The Chairman of the newly inaugurated Council, Professor Friday B. Sigalo, made this appeal during a tour of facilities at the  Polytechnic, recently.

Accompanied by members of the team, Prof Sigalo emphasised the position of technology, technical and vocational education in sustainable development.

He noted that with the prospects on ground, and the programmes and activities undertaken in the polytechnic, there is no doubt that the institution would add values to the educational system in our society and foster the desired development, if the existing challenges are jointly tackled.

This was contained in a statement signed by Deputy Registrar, Public Relations, Kenpoly,  Innocent Ogbonda-Nwanwu, and made available to The Tide in Port Harcourt.

The chairman who restated the intention of his team of technocrats to ensure that KenPoly enjoys desirable face-lift, said the Council would deliver on its core mandates, accordingly.

Earlier, the Rector, KenPoly Engr. Dr. Ledum S. Gwarah, commended the appointment of Professor Friday B. Sigalo as Chairman of the KenPoly Governing Council.

He described him and his team as seasoned technocrats and expressed confidence in their ability to succeed.

The Rector pledged the management’s support to the Council to ensure that KenPoly resumes its rightful place in the comity of polytechnics in the country.

Facilities visited by the Governing Council include KenPoly workshops, laboratories, skills acquisition centre, library, hostels and medical centre.

 

Chinedu Wosu

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