Nigerian govt seeks finance for infrastructure projects
22 February 2012
The Nigerian Federal Government is currently locked in negotiations with the Chinese government over funding for a number of infrastructure projects throughout the west African country, This Day has reported.
According to the news provider, the government is hoping to secure as much as $3 billion for a series of so-called 'priority projects' throughout the country, including improvements to the transport infrastructure.
Some $500 million of finance is being negotiated, with government officials hoping to use the money to fund four new terminals in Lagos, Abuja, Port Harcourt and Kano.
An additional $500 million, meanwhile, has been identified to complete the Abuja light rail projects, which should help to ease the strain on the city's public transport network.
Furthermore, it has been confirmed that $171 million has been earmarked for the completion of a Bauchi independent power plant project.
The infrastructure projects will eventually create millions of new jobs for the people of Nigeria.