Africa - Page 5

Nigeria Abandons Chinese Financing for Railroad Project

The Premium Times of Nigeria reported Friday that the Nigerian government has decided not to borrow any more money from China for railroad construction, apparently because the Nigerians are growing nervous about their $3.4 billion in debt to Chinese banks and were reluctant to add another $14.4 billion to complete several large railroad projects.

Workers try to cast a section of the new standard gauge railway line under construction from Iju in Lagos to Abeokuta, Ogun State in southwest Nigeria, on February 7, 2019. - The passenger train service which is designed to boost economic activites and ease movement of passengers by rail from …