The Nigerian Senate has approved the China Development Bank as the new financier for a rail project.
According to THE STAR, this project is set to cost close to a billion dollars.Information Guide Nigeria
Recall that a Chinese lender had been due to funding the line between Kaduna and Kano – the largest city in the north – but it pulled out in 2020.JAMB Result
However, President Buhari’s administration prioritized upgrading the country’s poor transport network and power supply but funding has been a major constraint.
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Though funds have yet to materialize, the parliament has approved several billion dollars worth of loans from Chinese and other international lenders.JAMB Portal
According to THE STAR, when the president-elect Bola Tinubu takes over in May, he will inherit a raft of challenges including double-digit inflation and widespread insecurity.NYSC Portal
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