The General Electric, GE, Vice Chairman, Mr. John Rice, has told the Federal Government to as a matter of urgency address the infrastructure challenges the country faces as Nigerians can’t wait forever.
Mr. Rice said “nothing else matters” other than Nigeria should fix power, transport infrastructure, and other basic infrastructure.
He tasked the government to invest in the development of the Nigerian human capital through trainings, capacity building and funding of researches.
Mr. Rice made the remark during a panel discussion with Vice President Yomi Osinbajo and Mr. Tony Elumelu, the Chairman Heirs Holding at the 23rd Nigerian Economic Summit jointly organized by the Nigerian Economic Summit Group (NESG) and the Federal Ministry of Budget and National Planning.
GE recently won the concession right to all the narrow gauge tracks in Nigeria – from Lagos to Kano and Port Harcourt to Maiduguri.
He said GE has been investing in Nigeria because of its human capital resource, the size of the country and natural resources.
Mr. Rice also said the government’s rules of engagement with private businesses must not convey undue advantage over other businesses as that will stifle investments, adding that private investors, especially foreign investors, will hold government accountable on its words.
According to him, when the government is transparent on the rules of doing business, more investors will flock to Nigeria.