INVESTIGATION: How Nigeria borrowed over $300m from China for telecoms projects that never delivered
Between 2002 and 2006, Nigeria obtained $359.9 million in loans from China to support its telecommunications sector, shortly… The post INVESTIGATION: How Nigeria borrowed over $300m from China for telecoms projects that never delivered appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria .
Between 2002 and 2006, Nigeria borrowed $359.9 million from China to support its telecommunications sector. The funds were allocated to the National Rural Telephony Project (NRTP), which aimed to extend telephone and telecommunications services to rural and underserved communities. Despite obtaining the loans and procuring equipment, no single CDMA line was installed.
The project faced financial mismanagement and disputes over implementation, leading to its suspension. The government repaid the loans with taxpayer money for services that were never delivered.
Written by urgent.news from Ripples Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
