China Railway Construction Corporation (CRCC) subsidiary China Civil Engineering Construction Corporation (CCECC) has signed a contract with Nigeria’s Federal Ministry of Transportation for the development of the Nigerian Eastern Railway Corridor.

The value of the contract stands at around $3.02 billion.

The scope of the contract includes the reconstruction and rehabilitation of the railway network spanning from Port Harcourt to the northern city of Maiduguri.

This eastern railway network, which passes through 12 states, connects several important cities in the eastern region.

Apart from the development work on the current eastern railway, the project will also involve the construction of additional branch tracks.

Once completed, the renewed railway network will be interconnected with standard gauge railways, along with connections to ports and key cities [like Lagos].

With five horizontal and three vertical railways, the proposed Nigerian railway network is set to facilitate industrial development and commercial activities.

The CRCC stated that the project will expedite Nigeria’s industrialisation and urbanisation process by encouraging the development and employment of resources along the network.

Rossiminku:
This country get money sha.

topboss:



Other Black countries are angry with us becos they know we have too much money.


But Britain, Fulani and Politicians no let us see am.

xelly:
misleading title. Eastern Railway Track moving from PH - Maiduguri. I thought Eastern States are Enugu, Anambra, Imo, Ebonyi? I don't know again ooo.

pascalbenz:
Okay

Okoroawusa:
I Love PMB

Praxis758:
Nigeria is now being chinalised with debt, infrastructure and contract.

GodHatesBigots:
Audio project

Rossiminku:


Every nation on earth is doing business with China including the USA, her biggest debtor.

Rossiminku:


It is called the Eastern corridor because it starts from PH and passes through Aba, Enugu, Onitsha, Middle Belt all the way up to Maiduguri.

The western corridor starts from Lagos through Abeokuta, Ibadan, Benin, all the way up to Kano.

Then there is the East-West Coastal Line coming up that connects Lagos to PH, Calabar, Onitsha, Enugu, Owerri, Umuahia etc.

It's a fully comprehensive high-speed network that is being set up.

The Nigerian railway system will be the pride of Africa when it's fully completed.

Praxis758:
Nigeria is now being chinalised with debt, infrastructure and contract.

Praxis758:
The US you mentioned do not give its sensitively key infrastructure to foreigners to handle.

Moreso, the indebtedness of the US to china is purely production which is boosting its local economy while ours is consumption that's killing our posterity and potentials.

Rossiminku:


The US has the technology, so it can do that.







Nonsense. Railway and other infrastructure is not ''consumption''.

Infrastructural development is geared at reducing the cost of doing business, which leads to business and GDP expansion and industrialisation.

CCECC is currently building a huge railway manufacturing plant in Kajowa, Ogun state, that will employ 5,000 Nigerians, and build modern trains for local use and export.

It will be the first train manufacturing plant in Africa outside of South Africa.

So none of this is about 'consumption', but development and industrialisation.

Praxis758:


Your superior argument is accepted.

Any evidence that china is building a railway manufacturing plant in Ogun state?

Yankee101:
You borrow money from them and they execute the contract with power of sovereignty clauses

Tochi3:
Name the states

Tommorrow you will loot the loan and say it waas used for eastern railway construction.

Audio secure.

Rossiminku:
This country get money sha.

Tochi3:
Name the states

Tommorrow you will loot the loan and say it waas used for eastern railway construction.

Audio secure.

Rossiminku:


There is no loan to loot.

These infrastructure loans work like this:

- Nigeria seeks a loan from China to build a railway line using a Chinese company.

- The Chinese govt pays 80% of the loan amount to the company, while the Nigerian govt pays the company the 20% balance.

- Nigeria then repays the Chinese govt the 80% loan over a 20 to 25 year period, plus negligible interest.

So no money actually changes hands, in terms of this 3.02 billion dollar contract.

It is a clean deal, which is sure to materialize.

Next time, try to understand before criticizing and condemning.