More stake for China in Africa as the country is expected to support the construction of Nigeria’s largest hydro power project.
The $6 Billion project which will inject another 3,050 Megawatt of electricity to the country’s grid has been under construction for nearly four decade, will connect three dams across Taraba’s Donga River.
According to reports from Construction review, the Chinese president in his statement has promised support in capacity building and intelligence sharing to help Nigeria reach its full hydro power potential for both electricity and irrigation.
Nigeria’s president Muhammadu Buhari on his part said that Mambilla Hydropower Project remains a key priority for the government and that he hoped to fund the project with concessionary loans from China.
“I told President Xi that the Mambilla Hydropower Plant is Nigeria’s equivalent of China’s Three Gorges Dam, and that our hope is to fund the project with concessionary loans from China as any alternative funding arrangement will adversely impact the project’s viability. I am fully committed to the realization of this landmark project and i look forward to him joining me for the ground-breaking ceremony in the not-too-distant future,” said the President.
China continues to be among the biggest investors in Africa, with a bias towards infrastructure projects. Experts argue that this could be dangerous for the continent in the long term for countries who might face face challenges in repaying the Chinese loans.
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