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Nigeria's president launches massive gas pipeline project

  • 2020-07-01 07:18:20
  • News

Nigerian President Muhammadu Buhari has launched an ambitious gas pipeline project linking the south of the country with the north.

Nigeria secured a $2.6bn (£2.2bn) loan from the China Export and Credit Insurance Corporation, also known as Sinosure, and the Bank of China to finance the project.

Because of the coronavirus pandemic, President Buhari launched the pipeline project via a video link while other officials were at the site.

Two Chinese companies will build the 614km gas pipeline, which should be completed within two years.

It will run link the central town of Ajaokuta in Kogi state to Kano state in the far north.

President Buhari said when completed it would help boost industrialisation as well as jobs and electricity generation.

Nigeria is one of Africa’s largest economies and oil and gas producers.

But experts say the country’s resources are either under-utilised or wasted.