The Nigerian government on Thursday, 9th of January 2024, got an approval for a $254.76 million loan from the China Development Bank.
It was gathered that it was approved as a support for the completion of the Kano-Kaduna railway project which connects Kano and Abuja, Nigeria’s capital city.
A project, estimated to cost $973 million, the 203 kilometer railway had earlier being delayed due to some funding challenge.
The bank in a post on its website said the loan would aid in the smooth completion of the project and would provide a safe and easy transportation alternative for Nigerians.
The project is also an important component of China’s Belt and Road Initiative which is currently being constructed by the China Civil Engineering Construction Corporation (CCECC). [CONTINUE READING HERE]>>>>
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