Nigeria to Start Building Railway to Decades-Delayed Steel Plant
Nigeria plans to start construction this month of a railway linking its decades-delayed Ajaokuta steel plant to iron-ore mines and a port, as the government accelerates efforts to reduce the economy’s reliance on oil.
Construction of the steel plant on the banks of the Niger river started in 1979 before stalling, partly because of the absence of a railway to carry raw materials and finished product. Now authorities are seeking to revive the project, as part of President Muhammadu Buhari’s efforts to invest in mining, agriculture and infrastructure. Government revenue from oil, which accounts for 90 percent of the nation’s export earnings, has shrunk after crude prices fell from a peak reached in 2014 and as attacks on pipelines in the Niger Delta curb production
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