NIGERIA TO USE CHINESE MONEY TO REVAMP INFRASTRUCTURE

The Federal Government has announced that it will use $1.1 Billion borrowed from the Chinese Export Import Bank to finance the construction of 11 international airport terminals across the country; build a light rail line for its capital city, Abuja, and improve local communication systems. The minister of aviation, Stella Oduah, announced that the $550 million being earmarked for airports will be used to construct six commercial and five cargo terminals over the next two years. Abuja, Enugu, Kano and Port Harcourt and Lagos are set to benefit from the loan.

The light rail project, expected to cost $500 million, will transport commuters from Abuja's suburbs and neighbouring Nasarawa state to the city's international airport, while another $100 million will be used to improve Nigeria's internet capability.

Can you read in between the lines? The Chinese are penetrating Africa real good.

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Sales price Rental per annum Lekki Phase 1 3 Bedroom flat N45m – N50m N2.5m – N3m 4 Bedroom wing of duplex N70m – N80m N3m – N4m Agungi 4 Bedroom detached house N45m – N50m N2.5m 3 Bedroom flat N40m N1.5m – N1.8m Chevy view 4 Bedroom terrace house N42m N2.5m 3 Bedroom flats N35m N1.6m Crown Estate 4 Bedroom detached house N30m – N40m N1.5m – N2m Thomas Estate, Ajah 3 Bedroom flat N25m N750k – N800k Abraham Adesanya 3 Bedroom bungalow N12m – N14m N700k – N1m 2 Bedroom bungalow N11m – N12m ...

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