List of 8 major infrastructural projects in Nigeria funded by Chinese loans
The mounting debt incurred by the federal government has been a subject of recurring debates among Nigerians.
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The Nigerian government has, however, at different times defended its position on borrowing. The government said it has to borrow to meet the infrastructural needs of the people, stressing that such borrowing is inevitable.
This piece lists some projects which the loans, particularly those obtained from China, are being used for, as reported by Quartz Africa.
Source: Twitter
1. National Public Security Communication system
Loan agreement: December 2010
Loan amount: $399.5 million
2. Nigerian Railway modernization (Idu-Kaduna)
Loan agreement: December 2010
Loan amount: $500 million
3. Abuja Light Rail
Loan agreement: November 2012
Loan amount: $500 million
4. ICT infrastructure backbone
Loan agreement: January 2013
Loan amount: $100 million
5. Expansion of four airport terminals: Abuja, Kano, Lagos, Port Harcourt
Loan agreement: July 2013
Loan amount: $500 million
6. Zungeru hydroelectric power
Loan agreement: September 2013
Loan amount: $984.3 million
7. Lagos-Ibadan Standard Gauge Railway (SGR)
Loan agreement: August 2017
Loan amount: $1.3 billion
8. Upgrading Abuja-Keffi-Makurdi road
Loan agreement: August 2017
Loan amount: $460.8 million
Meanwhile, after being confronted with questions over President Muhammadu Buhari's achievements in the last five years, the presidency has reeled-out names of projects completed and ongoing by the current government.
In what started like another social media flare-up, Mustapha Bulama, a Daily Trust cartoonist and journalist, asked Twitter users to mention major projects done by the Buhari-led government.
In a swift response, Lauretta Onochie, an aide to the president on social media, gave a list of projects and infrastructure completed and under construction by the Buhari government.
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In another report, President Buhari said Nigeria as a country is destined to prosper as it is full of citizens with "entrepreneurial energy and potential".
The president said that building infrastructure is one of his administration's top priorities just as he noted that many Nigerians "will mind their business" and "will not even care who is in government" if his government gets the infrastructure right.
5 years after, Nigerians speak about Buhari's administration | Legit TV
Source: Legit.ng
