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China Eximbank agrees to provide USD $500 million to Ministry of Niger Delta Affairs for Section 5 of the East West Road Project in Nigeria
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Ministry of Niger Delta Affairs |
| Country | Nigeria |
| Start Date | Jan 01, 2020 |
| End Date | Feb 25, 2029 |
| Duration | 3,343 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 93151 |
Grant Description
China Eximbank agrees to provide USD $500 million to Ministry of Niger Delta Affairs for Section 5 of the East West Road Project in Nigeria In 2020, China Eximbank pledged to provide USD$500 million to the Ministry of Niger Delta Affairs for Section 5 of the East West Road Project in Nigeria.
This information was provided by the Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, at a meeting with the Host Communities of Nigeria Producing Oil and Gas (HOSTCOM), led by its National Chairman, Style Benjamin Tamaranebi. The Nigerian federal government is expected to cover the rest of the cost for this section of the project.
Section V of the East-West highway project runs from Oron in Akwa Ibom state to Calabar, the Cross River State capital of Nigeria.
The highway, which is the flagship project being handled by the Ministry of Niger Delta Affairs, is estimated to cost about USD $1.07 billion. The 23.1 kilometer road is expected to be completed between 2-3-years after construction begins in December 2021.
Staff Comments
- It is unknown whether China Eximbank has dispensed this loan, so AidData has coded the loan's status as Pledge.
- There are discrepancies between several sources concerning the loan's transaction amount. While some media reports record the loan amount as 800 million USD and 680 million USD, AidData records the loan's transaction amount listed by the Ministry of Niger Delta Affairs, which is 500 million USD.
Sources & References
- Federal Government Approves N100bn for East West Road Project - Usani
- FG to get N245.6bn China loan for section V of East-West road, $1.25bn for Abuja rail, $500m for NTA Buharis $22.7bn loan spending plan
- FG Lists Beneficiaries of $22.7bn Loan
- FG to get N245.6bn China loan for section V of East-West road, 2019 Data on Chinese Official MLT Export and Trade-related Financing
- MNDA needs $800M loan to construct Oron-Calabar
- East-West Road
- Construction Of Section V Of The East-West Road To Commence Before December 2021-Akpabio
- Chinese company dominates Nigeria’s N10.5tn railway projects, says Fitch report
- FG: House Committee Inspects N’Central Zone Federal Highway Projects
- Reps demands good value for Abuja–Keffi–Lafia–Makurdi road project users
- Chinese firm speeds up construction of major Nigerian road project Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Ministry of Niger Delta Affairs
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