LAGOS (Reuters) - General Electric Co (GE.N) has pulled out of a long-term concession deal with the Nigerian government to maintain and operate narrow-gauge rail lines in the West African country, a procurement process adviser told Reuters on Wednesday.

The Nigerian railway concession project was worth around $2 billion for two lines connecting northern cities to others in the south.

The government had been due to enter into negotiations last year with GE over a railway project, although Nigeria’s upper house of parliament had said it would probe the railway concession over possible violations by Nigerian officials.

It was not clear why GE pulled out of the concession. The company was not immediately available for comment.

A consortium led by GE had submitted the only bid for the project in partnership with Transnet CGETR.UL of South Africa, Dutch-based APM Terminals and China’s Sinohydro Consortium.

Fola Fagbule, senior vice president and head of advisory at Africa Finance Corporation (AFC), which ran the procurement process after being appointed lead adviser by the government, said Transnet was in discussion to replace GE.

Economic growth in Africa’s most populous nation has been hampered for decades by its dilapidated rail network, built mainly by British colonial rulers before independence in 1960.

The concession was meant to cover about 3,500 km (2,200 miles) of existing narrow-gauge lines from the southwestern commercial capital, Lagos, to Kano in the north and from southeastern oil hub Port Harcourt to Maiduguri in the northeast.

Source: https://ca.reuters.com/article/idCAKCN1NK00B-OCABS

Na wa ooo... Mayb d stench of d body odour was jus too much

Nbote:
Na wa ooo... Mayb d stench of d body odour was jus too much

Anything Jubril touches turns into maggot

What will buhari campaign with in the SW then

Bad news everywhere

.

No reputable international company would want to have anything to do with a terroristocratic kleptocrat dullard

This won't stop Buhari's administration from achieving it's aim as regards the Blue print for the Nigerian Railways Sector. There is always a plan B.

I celebrate Buhari/ Jubril.

Almaiga:
This won't stop Buhari's administration from achieving it's aim as regards the Blue print for the Nigerian Railways Sector. There is always a plan B.

I celebrate Buhari/ Jubril.

Some of U really need to know when to shut d hell up

Nbote:


Some of U really need to know when to shut d hell up

Na you get my Mouth?

This government is now absolutely confounded and confused..... Anyways I still think wicked Nigerians will vote Baba come 2019

General Electrics(GE) can't operate in a country like Nigeria na.

I need VISA to leave this country

no investors confidence

A consortium led by GE had submitted the only bid for the project in partnership with Transnet CGETR.UL of South Africa, Dutch-based APM Terminals and China’s Sinohydro Consortium.

Lol why are you all getting so worked up. Transnet will most likely take over concession. They're departure will only delay work at most. The other partners in concession are still on board.

China is here for us what has America done for us

They should go... China and Russia would stay

KadunaMafia:
What will buhari campaign with in the SW then

The railway projects in the SW are not under the GE program so are fully ongoing as the Chinese who are in charge are still here.

Abeg look for another reason to wail as usual

GE cannot show us a single piece of rain they have installed or replaced in Nigeria.

$2 billion my foot. China will do it for far less, with far less fuss

Just to let everyone know. G.E pulled out because they want to leave Transportation business in general.

But where is Mynd44 sef

Maybe someone was demanding final settlement to enable him/her get a share before the elections

Useless government