The fate of a multi-billion billion gas pipeline project in Nigeria is now in question after Chinese lenders have seemingly backed out of the deal, forcing the Federal Government to look elsewhere to raise the missing capital.
The Bank of China together with Sinosure were originally scoped to finance 85% of the $2.8 billion 614 kilometer Ajaokuta-Kaduna-Kano (AKK) pipeline that is intended to foster economic growth in northern Nigeria by facilitating natural gas deliveries from the south.
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