Initiated by General Electric,  the world’s premier digital industrial company, the Consortium is comprised of SinoHydro, a leading infrastructure construction services corporation, Transnet, a leader in transportation and logistics infrastructure management and APM Terminals, a global port, terminal and intermodal inland services provider.

In the interim phase of the rail concession, Remedial Works will be carried out on part of the narrow-gauge rail line system to make it technically and economically operable. Additionally, a joint operation will be established between the Consortium and the Nigeria Railway Corporation (NRC) with an initial supply of 10 locomotives and 200 wagons to augment the existing rolling stock in Nigeria.

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This program is expected to deliver an increase in the number of available locomotives, thus increasing the frequency of passenger and freight rail services. In addition, freight haulage capacity by the end of the first 12 months of the interim phase is expected to increase roughly ten-fold, from its current less than 50,000 metric tonnes per annum to about 500,000 metric tonnes per annum.

Speaking on the occasion, Lazarus Angbazo, CEO of GE Nigeria said “GE is committed to the sustainable development of Nigeria and as such we are delighted to have reached this crucial stage of the project to revamp and revitalize the country’s legacy rail infrastructure system. The Consortium looks forward to commencing execution of this Interim Phase with the continued support of the Federal Government and the Ministry of Transportation. As operations begin, our strong partners, such as Transnet and SinoHydro, will bring their strong operating and development skills to the forefront.”

Following the commencement of the Interim Phase, the Consortium will conclude negotiations with the Federal Government on the terms of the substantive phase of the concession agreement that will expand service to up to 200 locomotives and associated rolling stock.  This will see to the comprehensive rehabilitation of Nigeria’s narrow-gauge rail infrastructure and the return of rail transport as a key element in enabling the country’s socio-economic development.

Chief Executive of Transnet International Holdings, Mr Petrus Fusi said, “We are pleased to be a partner in this ground-breaking concession and look forward to the successful execution of the Interim Phase with the government and the opportunity to add value.”

Similarly, SinoHydro Chairman, Mr. Ding Zhengguo mentioned, “This announcement is a step closer to the opportunity to transform rail infrastructure and transportation logistics in Nigeria; a country with huge potential.” He added “We are very excited to partner with this resourceful consortium to deliver value.”

APM Terminals has been actively investing and participating in Nigeria’s logistics infrastructure since 2006, and we are proud to be a part of this project to improve access for the Nigerian hinterland to the global logistics chain.” – David Skov, Head of Terminals IMEA added to the statements.

According to the Minister of Transportation, Mr. Rotimi Amaechi, “This milestone project is an unprecedented commitment by the Federal Government of Nigeria, which, combined with the GE-led Consortium’s drive to modernizing Nigeria’s rail infrastructure, will add immense value to Nigeria’s long term economic growth and productivity.” “This will be an important catalyst for small and medium enterprises and a key provider of almost incalculable socio-economic benefits for the many Nigerian towns and villages through which the rail network passes. “he added.

The post International Consortium Signs Interim Phase Agreement with Nigeria for Rail Concession first appeared on MegaIcon Magazine.

The post International Consortium Signs Interim Phase Agreement with Nigeria for Rail Concession appeared first on MegaIcon Magazine.

In this 2017 issue, GE commissioned a survey of four key industries – Oil and Gas, Transportation, Healthcare and Power – for insight from their key leaders, including CEOs, HR and operations directors, on the impact of skills shortage on their businesses, as well as the ways to address skills shortages.

Lazarus Angbazo, President and CEO of GE Nigeria, added “Competing in the 21st century global economy requires advanced skills development strategies and policies robust enough to adjust to changes in the economic landscape and the associated demands for skills. GE is committed to building a world that works better. We are committed to building skills to meet critical needs and fill skills gaps domestically and globally. Our aim is to achieve success by building collaboration, increasing employability, and engaging the public sector and business community. We understand that there is no one-size-fits-all approach to skills development. Indeed, it varies across countries and sectors. However, what is constant is the need for both the public and private sector to come together to ensure that the education system- from traditional structures, to vocational and new approaches are producing the necessary skills for the country’s current needs while anticipating its skills needs in the future.”

The report highlighted quality education as crucial to Nigeria’s future socio-economic development and emphasized the strain as a misalignment between current curriculum and industry needs places on the country’s infrastructural development, while recommending dialogue as a first step and public-private partnerships as a key driver in enhancing the quality of education.

The Honorable Vice President of Nigeria, Professor Yemi Osinbajo who wrote the preface for the report stated that, “Nigeria faces a Herculean task in plugging its skills gap. As the economy grows and new technologies emerge, the demand for skilled, competent and technical employees will only grow. Much of the emphasis needs to be placed on educational resourcing and policy reform – issues that sit predominantly with government and donors. But, the private sector has both a vested interest and a role to play in supporting the development of talent and the widening of the skills base in Nigeria.”

A strong example of GE’s commitment to skills development in Nigeria is the Lagos Garage, a hub for advanced manufacturing-based innovation, strategy development, idea generation and collaboration. Co-located with the GE Lagos offices in Victoria Island, the permanent installation of the Lagos Garage, launched in 2016, offers a year-round series of skills training programs focused on building the next generation of Nigerian entrepreneurs. Till date, 141 entrepreneurs have graduated the program having been trained to use the latest in advanced manufacturing technologies; 3D printers, CNC mills, and laser cutters as well as in business development. 100+ prototypes have been developed at the Garage with over 40 ideas being transformed into practical business models. About $1m+ in funding has been secured by graduates of the program and 12 alumni businesses have won prestigious awards both home and abroad.

The post The Future of Work in Nigeria — New Report by General Electric Nigeria first appeared on MegaIcon Magazine.

The post The Future of Work in Nigeria — New Report by General Electric Nigeria appeared first on MegaIcon Magazine.