US firm General Electric (GE) has announced plans to invest about $150 million in Nigeria, in development project, by 2017, an official from the institution said, cited by Reuters.

“There are development projects where we are investing”, said Jay Ireland, Director General GE for Africa. The funding falls under a $2 billion investment programme of GE in Africa, in the years to come, the official added.

Nigerian President Muhammadu Buhari said at the occasion of the nation’s independance day, that General Electric “was investing $2.2 billion in a concession to revamp, provide rolling stock, and manage some of the country’s railway lines”.

GE also intends to invest in the oil and gas sector.

Alain Okpeitcha