Top 6 ongoing projects in Nigeria worth billions of US dollars

Nigeria's economy is robust, particularly Africa's largest economy by some margin. As GDP hit $569 billion in 2014, current GDP is far below this presently but can grow well above in the nearest future. With these few ongoing strategic projects we'll be looking at, out of many, the economy might just be right on track. Before we look into these projects, kindly take a second to subscribe to our channel if you're new here. Also turn on our notification to always get notified each time we drop a video. Stay tuned. Dangute Refinery Project Dangute Refinery is one of the largest construction projects in Nigeria. It is a 650,000 barrels per day integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, Nigeria. It is expected to be Africa's biggest oil refinery and the world's biggest single-train facility upon completion in 2020. Dangute Oil Refinery, a company owned by the Nigerian-based Dangute Group, is developing the project with an estimated investment of $12 billion. The Dangute Refinery will process a variety of light and medium grades of crude to produce Euro-V quality clean fuels, including gasoline and diesel, as well as jet fuel and polypropylene. The integrated refinery and petrochemical project is expected to generate 9,500 direct and 25,000 indirect jobs. Centenary City Project Centenary City is the largest and most expensive construction project in Nigeria. It is estimated to cost $18 billion to construct. It is a planned city located in the Federal Capital Territory of Nigeria. Centenary City is a master-planned development overseen by Centenary City developers in a joint venture agreement with Centenary City PLC and Front Range Developers as part of Nigeria's vision to create the city of the future smart city along the same lines as Dubai, Monaco and Singapore. The city is to be built from scratch on the 1,260 hectares of virgin land located several kilometers southeast of Nigeria's capital Abuja and 5 kilometers from the international airport. The city will have a mixed-use urban center, a central business district, a financial center, a museum and cultural center to promote African and global arts, world-class hotels, grade-A offices, residential districts, an 18-hole golf course, pool and country club, an international convention center, sports and leisure facilities, a safari park, educational institutions, healthcare and community amenities. It is to be private sector driven. Centenary City has been declared an economic city and approved for free trade zone status by the Nigerian Export Processing Zone Authority. Lagos-Kalaba Railway Project. Lagos-Kalaba Railway Line, which is also known as the West East Coastal Rail Line, is a rail infrastructure project that is in development to link Lagos, the largest capital city of the West African Republic located in the southwest region, to Kalaba, a port city in the southeast region, near the border with the neighboring Republic of Cameroon. 1,400 kilometers long and at cost of 11 billion dollars, the Lagos-Kalaba Railway is one of Africa's most ambitious projects. The rail project will link Lagos in the west to Kalaba to the east, while also connecting the cities of Port Harcourt, Uyu and Aba along the way. Once completed, this transportation network will significantly enhance the movement of goods and services across the region. Nigeria has its own smart city mega project called Eco-Atlantic. This new coastal city is being built on Victoria Island adjacent to Lagos Island, Nigeria. It is a focal point for investors capitalizing on rich development growth based on massive demand and it's a gateway to emerging markets of the continent. The proposed Eco-Atlantic is expected to accommodate at least 250,000 residents of the city on the project completion. The Eco-Atlantic project extends over nine kilometers square and is also expected to have positive effects in restoring and protecting the state shoreline. At seven kilometers and 40 meters wide, the island's walkway will be the longest in the world. Mambila hydroelectric power project. As Nigeria looks to boost its energy production to match the needs of its booming economy and population, the government has finally invested into making Mambila hydro power project a reality. The 5.8 billion dollars project will connect to three dams across the Donga river in Taraba state, eventually generating a total installed capacity of 3050 megawatts of electricity. The Mambila hydro power project has been planned for over 40 years. It is expected to connect to four dams across the Donga river. The first preliminary feasibility study for the Mambila hydro power plant was reportedly carried out by Motu Columbus in 1972, but attempts to construct the power station up to now have been unsuccessful. In November 2017, there were attempts to start construction of this power station, however, due to various constraints, including landslides and a lawsuit at the International Court of Arbitration, the project stalled again. In February 2020, following the resolution of the lawsuit, there were fresh attempts to resume construction. Construction is expected to take at least seven years from start to finish due to the technical complexity of the project. A more realistic completion date is 2030. Lagos light rail project. Lagos light rail is a light rail system, the first of its type in this region of Africa, and is envisaged to eventually consist of seven lines. The scheme is approximately 35 kilometers in length, and with 14 stations proposed, there will be an estimated ridership of a minimum of 500,000 passengers per day. One of the lines is now being built by China civil engineering construction corporation, and will run 27.5 kilometers from Marina to Okoko Maiko with 13 stations. Lagos state is financing construction of the line from its own resources. These are powerful projects and we hope to see what these projects will turn out to be. We also hope that they will be of great impact to the Nigerian economy. Give this video a like if you enjoyed it, feel free to drop a comment in the comment section, and of course, don't forget to subscribe. Thanks for watching.