The Niger Delta

Monday, August 28, 2006

CHINA AND NIGERIA

In a bid to strengthen trade ties, the Chinese government has offered a soft loan of US $1 billion to the Nigerian government to expand and rehabilitate its railway system.
The US $1 billion loan from the Chinese government will mark the second involvement of China in the Nigerian railway system, it had been involved in US $ 300 Million project under the late Sani Abacha.

The project which is expected to cost about US$2.5billion has been described by the Nigerian Transport minister, Abiye Sekibo as the largest single investment by any single government in Africa. The first phase of the project will run from Lagos to Kano via Ibadan, Minna, Abuja and Kaduna.

In recent times, china, the world’s second largest oil consumer, has increased ties with some oil producing nations in a bid to diversify crude oil source.

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