The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has restated the Federal Government’s commitment to the full implementation of the local content policy as enshrined in the Nigerian Content Development Act.

The Minister stated this at a ceremony held in her office yesterday to mark the unveiling and formal signing of the contract for the construction of General Electric’s Multi Modal Manufacturing and Service Facility in Calabar, Cross Rivers State.

Going down memory lane on how the project was conceptualize, Mrs. Alison-Madueke explained that the facility was conceived in 2013 as a manufacturing and assembly plant for machines and equipment to service the oil and gas and the power sectors to promote local production and generate employment opportunities in keeping with the vision of the local content policy.

L-R: Vice Chairman, GE Global, Mr John Rice and Managing Director, GE Nigeria, Mr Lazarus Angbazo, presenting copies of the contract papers signed with Julius Berger for the construction of its Multi Modal Manufacturing and Service Facility in Calabar to the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, after the unveiling of the project

She disclosed that the signing of the contract for the project was significant because it is represents a promise kept on the part of GE; a proof that Government is truly attracting credible foreign direct investment by creating the enabling environment for genuine investors; and a proof of government’s commitment to job creation as the project is billed to create at least 2,300 direct and indirect jobs.

While commending the Nigerian Content Development Monitoring Board for working tirelessly to ensure inflow of investment such as the GE’s manufacturing plant, she, however, warned that the Federal Government will not hesitate to wield the big stick to ensure compliance with local content laws.

“The real work has only just started. While I have no doubt that GE will keep its word, I enjoin NCDMB to closely ensure that after completion of this project, the laws of the land are followed strictly with regard to local content,” she stated.

She commended GE for its commitment to the success of the project by choosing Julius Berger for the construction work, adding that the real milestone would be when President Goodluck Jonathan would be invited to commission the project.

Speaking on the importance of the project to GE, Vice Chairman GE Global, Mr John Rice, said his company was committed to the project and would not allow the recent drop in oil price deter it.

“We are aware that government is taking necessary action to deal with the situation. We are still investors, we are a long term investor and our commitment to follow through on this does not change one bit,” the GE boss said.

According to the timelines of the project shared by GE and Julius Berger’s officials, construction will commence in January 2015 and production in the facility is expected to commence in the second quarter of 2016, while the project will be fully completed in the second quarter of 2017.