The Federal Government on Tuesday in Beijing signed an agreement for a $1.1 billion facility with the China Exim Bank for three high priority projects expected to be completed by 2015.
The projects are the Abuja Light Rail project which will cost $500 million, four new Airport terminals expected to cost $500 million and the Galaxy Backbone ICT infrastructure which will be financed with $100 million.
The commitment of the Chinese bank to the financing of the construction of four state-of-the-art airport terminals in four cities across the country – has also been obtained and the agreement is expected to be signed within the next few weeks.
The terminals which will cost $500 million will be located in Abuja, Kano, Port Harcourt and Enugu. The new airport terminals will help Nigeria achieve the status of a hub on the continent and deepen employment generation in the sector.
The terminals will also help to grow passenger capacity to over 50 million from the current 20 million and increase the number of direct and indirect jobs in the sector to 1.5 million from the current 60,000.
3 comments:
I hope this increasing employment is true,the chinese people are somehow to do business with
All the billions going into this if inthe long run Nigeria is not producing we will keep borrowing and borrowing,check the economy of all those who borrowed and didn't produce enough,I pray we dont end up like them
I stand on the opinion this huge amount of money cld have gone into agrictulture and manufacturing sector lets produce more first bf pumping so much on airports.
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