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Italian Investors Enter Nigeria’s Power Sector

Italian Investors Enter Nigeria’s Power Sector

Italian companies are making moves in Nigeria’s power sector. In fact, three Italian companies–Allimep, Duemme and Sime–have entered Nigeria to target the country’s engineering industry. The company’s have the ultimate aim of providing support to the private sector-driven power sector as well as the oil and gas industry.

General Electric, a global infrastructure manufacturer, has attracted the three investor-companies to Nigeria to explore partnership opportunities with indigenous engineering companies, reports Business News.

Phil Griffith, GE’s Supply Chain leader for Africa, said the companies’ investments in Nigeria would help to increase the capacity of indigenous engineering companies that would support GE’s operations in the country.

GE recently inked a $1 billion investment deal for the establishment of a new manufacturing and assembly facility in Calabar.

According to Griffith, the Italian companies’ incursion into Nigeria was in consonance with the Federal Government’s local content law, which mandates that a substantial part of the operations of foreign companies in the country must be localized.

And, Griffith stated GE had in the last year held supplier fairs within and outside the country in search of Nigerian and foreign companies that could partner with it to boost their operational capacity in supporting GE’s growing operations in Nigeria like the Calabar plant, which will be the company’s biggest investment in sub-Sahara Africa, reports Business News.