Nigeria: Chinese Firm Invests U.S.$10 Billion in Bida Basin

8 January 2014

At last, the federal government has given the approval for oil exploration in the Bida Basin, even as a Chinese firm has agreed to invest about $10 billion in the project.

Niger State commissioner of mining and mineral resources Engr Abubakar Baba Jibreel disclosed this in Minna yesterday at a ministerial media briefing to take stock of the achievements of the ministry in 2013 and the plan for the 2014 fiscal year for solid mineral development in the state. Jibreel informed that President Goodluck Jonathan had given the approval for the exploration of oil and gas deposit in the Bida Basin in the state.

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