The New Continental Record Of Nigeria

Over the last decade China has spent about $100 billion on African projects and Nigeria is leading in the number of these investments.
Nigeria has become important for China’s foreign policy and trade, and both sides are continuously creating mutually beneficial projects.

Trade between China and Nigeria was $13.6 billion last year. This year Nigeria and China have signed a deal to build a railway along the African country’s coast. According to the China Railway Construction Corp the $11.97 billion contract is China’s single largest external contract project.

The seaside 22-stop railway, which will stretch for 1,402 kilometers, will link Nigeria’s economic capital Lagos in the west with Calabar in the east.

The new railway project has become the continuation of the $7,5bln project signed in 2006. Signed in 2006 The project started in February 2011, and should be completed by the end of this year.

Except transport sphere,Cnina also invests in Energy sector ($9,2bln), Technology ($1,7bln) and Real Estate ($3,5bln).