The China EXIM Bank will grant Nigeria USD 1 billion loan for railway projects across Nigeria, Nigeria’s Minister of Industry, Trade and Investment Okechukwu Enelamah said.
According to his statement, the fund would be utilised for the development of Lagos-Kano rail line and rail lines connecting the South and South-east parts of the country.
This September, China Civil Engineering Construction Company (CCECC) announced that it has won the USD 1.68 billion contract to modernise the Kano-Kaduna section, part of Lagos-Kano railway line.
The USD 8.3 billion Lagos-Kano standard gauge project is being built in segments. Only the segment between Abuja and Kaduna has been completed and services began officially in July 2016. The segment between Lagos and Ibadan is under construction.
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