Chinese firm to build $1 billion road in Nigeria oil hub

One of China’s top engineering firms has signed a $1 billion deal to build a road around the volatile Nigerian city of Port Harcourt, the hub of Africa’s biggest oil industry, the AFC development bank said on Sunday.

The deal makes Beijing a key development partner in the Niger Delta, home to Nigeria’s 2.1 million barrels per day (bpd) oil industry, where poor infrastructure and a lack of investment have fuelled a campaign of violence by militant groups.

China Harbour Engineering Co. (CHEC) signed a memorandum of understanding with the African Finance Corporation (AFC) for the six-lane ring road during a visit to China by Nigerian local government and AFC officials last week.

Reuters