China Eximbank agrees to provide USD $500 million to Ministry of Niger Delta Affairs for Section 5 of the East West Road Project in Nigeria

In 2020, China Eximbank pledged to provide USD$500 million to the Ministry of Niger Delta Affairs for Section 5 of the East West Road Project in Nigeria. This information was provided by the Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, at a meeting with the Host Communities of Nigeria Producing Oil and Gas (HOSTCOM), led by its National Chairman, Style Benjamin Tamaranebi. The Nigerian federal government is expected to cover the rest of the cost for this section of the project. Section V of the East-West highway project runs from Oron in Akwa Ibom state to Calabar, the Cross River State capital of Nigeria. The highway, which is the flagship project being handled by the Ministry of Niger Delta Affairs, is estimated to cost about USD $1.07 billion. The 23.1 kilometer road is expected to be completed between 2-3 years after construction begins in December 2021.

Additional details

1. It is unknown whether China Eximbank has dispensed this loan, so AidData has coded the loan's status as Pledge. 2. There are discrepancies between several sources concerning the loan's transaction amount. While some media reports record the loan amount as 800 million USD and 680 million USD, AidData records the loan's transaction amount listed by the Ministry of Niger Delta Affairs, which is 500 million USD.

Number of official sources

4

Number of total sources

8