Tag: Chinese Loan

Tinubu unveils ₦4tr bond, $2bn, China loan to reboot Nigeria’s power sector

Aminu Imam
FG unveils bond, China loan

…“Reforms, super grid, industrial power projects to end chronic outages” – Adelabu The Federal Government has announced sweeping financial and infrastructural interventions to overhaul Nigeria’s electricity sector, including a ₦4 trillion bond to clear outstanding debts to power generation companies (GenCos) and gas suppliers, as well as plans for a $2 billion loan from China’s Exim Bank to build a nationwide ‘super grid’. Minister of Power, Chief Adebayo Adelabu, disclosed this on Monday in Abuja at the Expert Forum on: ‘Uninterrupted Power: The Industrial Imperative’, organised by the Nigerian Economic…

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Kano-Kaduna railway project: China approves $254m loan for FG 

Aminu Imam
KD KN rail project

The China Development Bank, (CDB), has approved a $254.76 million loan to support the construction of the Kano-Kaduna railway project in Nigeria by the President Bola Tinubu-led administration. In a statement issued on Tuesday, the bank said the funding would facilitate the smooth implementation of the infrastructure project. The construction is being handled by the China Civil Engineering Construction Corporation, (CCECC), with financial backing from the CDB. “The Kano-Kaduna railway spans a total of 203 kilometers and is designed as a standard-gauge railway. Upon completion, it will establish a direct…

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Reps Summon Amaechi, Zainab Ahmed, Pantami over 500 million dollar Chinese loan

Ishaku Yohanna

The House of Representatives has demanded appearances by the minister of Transportation, Rotimi Chibuike Amaechi, those of Communication and Finance, Dr. Ali Isa Pantami and Mrs. Zainab Ahmed, to provide answers on the $500 million loan to be sourced from the Export-Import Bank of China for railway lines in the country. They are also to provide details on the agreement signed between the Federal Ministry of Transport and the CCECC in respect of some railway projects in the country. The projects involved are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano rail…

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