Nigeria’s $50B Mambilla Project Gets Chinese Boost

Key Figures & Findings: The Chinese government, along with China EXIM Bank, reaffirmed their commitment to Nigeria’s Mambilla Hydropower Project despite ongoing legal disputes with Sunrise Power Transmission. The $50 billion project, located in Taraba State, Nigeria, is set to generate 3,050 MW of electricity, making it Nigeria’s largest power station. China EXIM Bank, known for facilitating international trade finance, is closely monitoring the settlement process. The project has the potential to create over 50,000 jobs, contributing significantly to Nigeria’s economic growth. Commendations were given to President Tinubu for his reform-driven leadership.

Statistics & Insights: The Mambilla Hydropower project will produce 3,050 MW of electricity and create 50,000 jobs. China EXIM Bank’s financing plays a pivotal role in the project’s $5.8 billion budget.

Future Implications: The completion of the Mambilla project will significantly boost Nigeria’s power capacity, offering substantial energy output while fostering job creation and economic development, reinforcing China’s role in Africa’s energy sector.

Source: The Sun