twitter Facebook Linkedin acp Contact Us

China’s Exim Bank to provide US$600mn for infrastructure projects in Nigeria

The projects are crucial to improve the Nigerian cities core infrastructure. (Image source: Jeff Attaway/Flickr)

Nigeria has signed agreements for US$600mn with China’s Exim Bank for the Abuja Light Rail and the Galaxy Backbone ICT infrastructure projects

The two projects are expected to be completed by 2015. According to government sources, these projects are intended to boost Nigeria’s critical infrastructure.

The Abuja Light Rail project, which will receive US$500mn, comprises of two parts. One part of the intra-city rail network will extend from the city centre to Kubwa and the Nnamdi Azikiwe International Airport. The second part will run from the city centre to Masaka in Nassarawa State. The project is expected to ease traffic congestion in the capital city.

The Galaxy Backbone ICT Infrastructure projects will enhance the government’s capacity to tackle security challenges and improve connectivity to technology. Government officials revealed that the project will receive US$100mn for an upgrade.

In addition, the Exim Bank is also considering financing a third project – the construction of four state-of-the-art airport terminals in Abuja, Kano, Enugu and Port Harcourt. The agreement for the US$500mn project will be signed shortly, confirmed government sources.

Ngozi Okonjo-Iweala, Nigeria's coordinating minister of economy, said, “President Goodluck Jonathan is keeping his promise to Nigerians through these important projects. The light rail in Abuja will improve transportation for all residents, especially the working class.

"The backbone will help to improve service delivery in areas like education and health while empowering the youth with better connectivity to the rest of the world. The four new airport terminals will create jobs and ensure that Nigerian passengers enjoy services and convenience.”

The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)

GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)

The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)

The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)

ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)

Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)

The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)

Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)

WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)

The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)

Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)

IVECO is renewing its entire product range, all at once. (Image source: IVECO)

The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)

Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)

There has been a focus on the sugar industry. (Image source: Adobe Stock)

Evolving concept of energy security must address energy demand, system flexibility, technology access and infrastructure development, says IRENA. (Image source: IRENA)

World Bank & African Development Bank partner to provide electricity access to 300 million Africans by 2030, leveraging public-private investments. (Image source: Adobe Stock)

(L-R): Dr Diane Karusisi, CEO, Bank of Kigali and Dr Reda Helal, group managing director – processing, Africa and co-head group processing, Network International. (Image source: Network International)

At WFES, Gotion High-tech will showcase its latest products and leading green energy solutions at its booth. (Image source: Gotion High-tech)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

SSAB will begin deliveries of the new products in 2026.

The key issues restricting sub-Saharan Africa’s manufacturing sector will be unpacked at Manufacturing Indaba later this year. (Image source: Adobe Stock)

Through the innovative solution, each vessel can fill two tank containers on average between two ports. (Image source: Maersk)

Hyphen is developing sub-Saharan Africa’s largest, most advanced and only fully-vertical integrated green hydrogen project. (Image source: Hyphen)

According to Liebherr, the Used Equipment Marketplace is extremely user-friendly. (Image source: Liebherr)

Electricity storage will be pivotal in unlocking renewable projects and meeting energy demand. (Image source: Adobe Stock)

With RFID, assets can be given unique digital identities that enable users to identify and locate them all at once, from a distance, in real time. (Image source: Brady)

Africa Data Centres and DPA SA have broken ground on their solar farm in the Free State. (Image source: Africa Data Centres)

A Cat PM310 Cold Planer in action. (Image source: Caterpillar)

A larger stockholding of WEG products facilitates ready access for customers. (Image source: WEG Africa)