Chinese Government pledges $2.5 billion for Lagos Metro Rail Transit Red Line Project

In April 2016, during the Nigerian President Muhamadu Buhari's visit to China, the Chinese government reportedly signed a $2.5 billion agreement with the government of Nigeria for the development of the Lagos Metro Rail Transit Red Line project (Chinese project name: 拉各斯轻轨红线). According to an interview with Femi Adesina, Special Adviser on Media & Publicity to President Muhammadu Buhari, the $2.5 billion USD has been "secured" from the Chinese government. However, MOFCOM reported that the project was only approved by the Nigerian government on February 2, 2017. It was reported that they will be drawing up a financing plan. CCECC reportedly signed the project contract only in 2020, for 188 million USD. Project coded as pledge for now. The construction of the Lagos Rail Public Transit Red Line Light Rail Project has started on April 15, 2021 by China Civil Engineering Corporation. This agreement was a result of President Muhammadu Buhari's trip to China, in which he signed deals which totaled to the value of $6 billion. This also included the construction of a solar power station in Shiriro (Project #52462), $55 million for the construction and equipping of granite mining plant (project #52468), a deal to develop the Nigeria's Greenfield expressway (Abuja-Ibadan-Lagos) (project #52470), a $1 billion Hi-tech industrial park (project #52477), and an agreement for a high rise housing project (project #52476).

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