Project ID: 30341

China Eximbank provides $500 million preferential buyer’s credit for Nigeria Four Airport Terminal Expansion Project (Linked to Project ID#1851 and #30340)

Commitment amount

$ 485830935.1

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Nigeria

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2013

Implementation

2014

2014-02-13

Actual start

Geography

Description

On July 10, 2013, the Export-Import Bank of China and the Government of Nigeria signed a $500 million preferential buyer’s credit (PBC) agreement for the Nigeria Four Airport Terminal Expansion Project (Abuja, Kano, Lagos, and Port Harcourt). The PBC carried the following terms: 20 year maturity, 7 year grace period, and a 2.5% interest rate. The final maturity date of this loan is September 21, 2034. As of March 31, 2020, Nigeria’s Debt Management Office (DMO) reported that 91.06% of this China Eximbank loan had been disbursed. The Nigeria Four Airport Terminal Expansion Project involved the expansion of four airport terminals in Abuja, Kano, Port Harcourt, and Lagos (Abuja International Airport, Port Harcourt International Airport, Murtala Muhammed International Airport, and Mallam Aminu Kano International Airport). Upon completion, it was envisaged that these four expanded airport terminals will increase passenger capacity from 20 million to 50 million and increase jobs from the 60,000 to 1.5 million employees. China Civil Engineering Construction Company (CCECC) is the contractor responsible for implementation. Construction began on or around February 13, 2014. The new terminal at Port Harcourt International Airport was delivered on October 25, 2018. The new terminal of Abuja International Airport was delivered on December 12, 2018. The new terminal at Mallam Aminu Kano International Airport was completed in November 2019. The terminal at Muhammed International Airport in Lagos was still under construction in 2020. The new terminal of Abuja International Airport (also known as Nnamdi Azikiwe International Airport, or NAIA) covers an area of 56,000 square meters and is connected to the Abuja City Railway via a 60-meter-long air corridor. It has 66 check-in counters, 5 baggage carousels, an immigration check-in port, and 16 departure immigration checkpoints.

Additional details

This project is also known as the 4 Airports Terminal Expansion Project. The Chinese project title is 建的尼日利亚4座航站楼 or 四个机场航站楼项目 or 阿布贾航站楼 or 拉各斯航站楼 or 哈尔科特航站楼 or 卡诺航站楼.In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not record the grace period for this loan. AidData records the grace period (7 years) that is reported by Nigeria’s Debt Management Office (DMO) in its “Status of Loans Obtained from China Exim As At March 31, 2020” publication.

Number of official sources

16

Number of unofficial sources

22

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Nigeria [Government Agency]

Implementing agencies [Type]

China Civil Engineering Construction Corporation (CCECC) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.5%

Grace period

7 years

Grant element

52.39978832%

Gurarantee provided

No

Insurance provided

No