China to Build Refineries for Nigeria

China and Nigeria have signed a deal worth US$23 billion that paves the way for China State Construction Engineering Corporation to build three refineries in Nigeria. Nigeria is the world’s eighth-largest oil exporter but is forced to import 85 percent of its fuel because of severe management problems. The Nigerian government has said that foreign companies must invest in developing Nigeria’s infrastructure and economy first, before they can benefit from its oil and gas exports.

Source: BBC News

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