CHINA LOAN AGAIN!!! FG SET TO TAKE ANOTHER 5BIL DOLLARS FROM CHINESE FOR MAMBILLA POWER PROJECT

Chineme Okafor in Abuja Nigeria has formally requested for loan from China Exim Bank to build the 3,050 megawatts (MW) Mambilla hydropower generation plant, whose construction was billed to gulp $5.8 billion, THISDAY has learnt. It was gathered from the officials of the Ministry of Power during a presentation to the new Minister of Power, Mr. Saleh Mamman, and the Minister of State, Mr. Goddy Jedy-Agba, that the Ministry of Finance had applied to China for the loan. Under the contract financing arrangements, EXIM is to provide $4.93 billion in…

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