Tag: Nigeria
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Chinese Contractor Pledges to Complete Nigerian Capital’s Light Rail in Eight Months
The local head of Chinese construction major CCECC, Jason Zheng, pledged that it would only take eight months to build the once-abandoned light rail in the Nigerian capital Abuja. Zheng made the promise during a meeting last week with Nigerian Vice ...
China’s Share of Nigeria’s Ballooning Debt Remains Steady at Around 4%
Chinese creditors account for just 4.1%, or $4.7 billion, of Nigeria's $114 billion total public debt, according to the latest figures released by the Debt Management Office in Abuja. While China's share is significantly larger than other bilateral creditors, France is ...
Chinese Weapons Giant Norinco Wants to Expand Its Business in West Africa
The Chinese state-owned arms manufacturer Norinco opened a new sales office in the Senegalese capital Dakar this week as part of the company's effort to expand its business in West Africa. The company is already a major supplier to militaries ...
China’s Foreign Ministry Signals Support for Niger’s Deposed President But Fails to Provide Any Specific Information
The Chinese Ministry of Foreign Affairs broke its silence regarding the recent coup in Niger. It issued a curt statement late last week that expressed support for deposed president Mohamed Bazoum but failed to provide any specific details about the status of key Chinese interests and personnel in ...
Nigerians’ (Misplaced) Anxiety About Chinese Debt
For years, Nigerian politicians and media reports have issued breathless warnings about the dangers of becoming too indebted to China, fearing the dreaded "debt trap" and the risk of surrendering the country's strategic assets. While ...
Nigerian Trader Sparks Online Controversy When He Shows How Much He Bought for Just $63
Nigerian TikTok users couldn't believe what they were seeing when a China-based importer who goes by the TikTok handle @timi_perfection posted a video that laid out everything he bought for just 50,000 nairas (about $63.) Dozens of comments expressed doubt over how much ...
PLA Navy Tour of Africa Stops in the Republic of Congo
A weeks-long tour of Africa by a trio of Chinese warships continued with a stop in the Republic of Congo on Friday, where they were greeted by Defense Minister Richard Mondjo. The PLA Navy ships previously made stops in Nigeria, Ghana ...
Anti-Chinese Campaign on Nigerian Twitter Raises Questions
Readers following West Africa-China relations will know that unhappiness about Chinese involvement in small-scale mining is ongoing, especially in Ghana. However, a new campaign on Nigerian Twitter under the tag #STOPCHINESEILLEGALMINING is raising all kinds of questions. First, a significant number of the ...
Hunan’s Trade With Africa is Up 90% in 2023
The central Chinese province of Hunan has spent years positioning itself as an African trading hub, and according to the latest customs data, its efforts are now paying significant dividends. Trade between the province and African countries surged by 90% in ...
China Exim Bank to Finance Controversial East African Oil Pipeline: Media Reports
The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania. Ugandan Energy Minister Ruth ...
Africa’s Debt-fueled Infrastructure Binge Will Not Generate Economic Growth, Says Prominent Kenyan Scholar
Kenya, Nigeria and Zambia are among a number of African countries that borrowed billions of dollars over the past twenty years to build massive infrastructure projects that policymakers in those countries all thought would help grow their economies. That didn't happen ...
Nigeria to Finance Major Pipeline After Chinese Funding Falls Through
The Nigerian government will pick up the tab to build the last portion of the 614-kilometer AKK natural gas pipeline that China had originally agreed to finance. In 2017, the Bank of China negotiated a deal to fund the $2.5 billion project ...