Nigeria says signs $1bln MoU with GE for factory

ABUJA Thu Jan 31, 2013 11:00am EST

ABUJA Jan 31 (Reuters) - Nigeria signed a memorandum of understanding with General Electric on Thursday for $1 billion of investment over the next five years into a factory in the southeast, the trade ministry said.

"The deal ... is expected to create 2,300 jobs and make Nigeria the regional hub for GE's manufacturing service and innovation in Africa," the ministry said in a statement.