United States industrial firm has concluded plans to invest around $150 million in Nigeria by 2017, disputing claims by President Muhammadu Buhari that the company will invest $2.2 billion in the economy.
Has President Buhari’s speech writers goofed again?
This information was revealed by the chief executive of GE in Africa, Jay Ireland, who was speaking to Financial Times.
President Buhari had told Nigerians in his Independence day broadcast speech that the company will invest $2.2 billion in a concession to revamp, provide rolling stock, and manage some of the country’s railway lines.
According to Ireland, GE would also invest in oil and gas industry projects, adding that the investment was part of a plan to spend US$2 billion in Africa in the near future.
It is not clear where the Nigerian presidency got the figures which was read out by the president.
This is coming two weeks after the presidency was smeared with an allegation of plagiarism of the speech delivered by President Buhari during the launch of the ”Change With Me” campaign.
Evidence showed the president’s speech was lifted from a 2008 victory speech given by the United States of America’s president Barack Obama.
The president was quick to blame his speech writer for such criminal act and has since fired him.
These are not the best of times for the Muhammadu Buhari led government as S&P Global Ratings recently downgraded Nigeria further into junk territory.
