Goodluck JonathanThe Nigerian President, Goodluck Jonathan, has assured citizens and foreign investors that the Nigerian economy will remain stable despite the drop in global oil prices.


  • President Jonathan gave the assurance on Friday at a meeting with GE top management
  • He asked the company to maintain confidence in the Nigerian economy
  • “When you are challenged, you do better”, he says
  • President Jonathan says the government will do everything possible to stabilise the economy


President Jonathan gave the assurance at a meeting held on Friday at the Presidential Villa with a delegation of multinational industrial giant, General Electric (GE), led by its Vice Chairman and CEO, Mr John Rice.

In a statement by spokesman for the President, Reuben abati, President Jonathan said that the Federal Government would do everything possible to maintain domestic economic stability, and urged the company to maintain its confidence in Nigeria.

Government will do everything necessary

“We promise our people that even with the drop in oil prices, the economy will be stable.

“I urge you to maintain the confidence you have in this country before the drop in oil price, and even expect better management from us.

“Sometimes, it is when you are challenged that you do better than when everything looks good.

“So, I assure you, other investors in this country and all Nigerians that the government will do everything necessary to stabilise the economy and that the drop in the price of crude oil will not create so much distortion in our economy,” he said.

The President’s assurance is coming just as oil price has dropped to 67$ per barrel, a price it had not gotten to in years now.

The President thanked GE for its commitment to increasing its investment in Nigeria with the attendant benefit of job creation for many more Nigerians.

President Jonathan also welcomed GE’s plans to set up a facility in Calabar to manufacture components for the oil and gas sectors.

Mr Rice told the President that GE had committed about $30 million to the development of the Calabar Plant and was already undertaking the training abroad of some Nigerians who would work there.

He expressed his company’s appreciation of the support and encouragement being extended by the Federal Government to foreign investors and assured the President that fluctuations in global oil prices would not affect the commitment of GE to the country.


NP/Reuben Abati


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