They have huge oil resources that are being developed. China needs oil.
From The Nigerian Observer:
Oando partners Yutong, receives electric buses for Lagos
Oando Clean Energy Limited (OCEL), a renewable energy business subsidiary of Oando Plc, has announced it has received electric mass transit buses that will kick start the sustainable transport initiative in Lagos State, Nigeria’s commercial capital.
The announcement was contained in the notice sent to the Nigerian Exchange Group(NGX) wherein OCEL stated that the delivery of the electric vehicles was part of its commitment to the Lagos Metropolitan Area Transport Authority (LAMATA) to enable the successful deployment of an electric vehicle infrastructure ecosystem involving electric buses, charging stations, and other supporting infrastructure “towards the attainment of a sustainable road transport system in Lagos State.”
Time for a subdued golf-clap everyone... Yay - a renewable project. A bit more:
“In line with its culture of excellence, OCEL, partnered with Yutong Bus Co Limited, the world’s largest electric vehicle manufacturer to produce the electric buses, equipped with air conditioning and Wi-Fi. In addition to the arrival of these electric buses, OCEL has also taken delivery of the charging stations and spare parts necessary to ensure their effective operation.
“Consequently, and in line with the provisions of the partnership between OCEL and LAMATA, the receipt of both the buses and charging stations marks the commencement of our Sustainable Transport Initiative, which is one of the Company’s pipeline projects to support Nigeria in meeting her goal of net zero by 2060,” OCEL stated.
The agreement between the parties will see to the deployment of over 12,000 electric buses in Lagos State, helping to transition the current combustion mass transit buses to electric buses, and with a view to generating for Lagos State about $2.6 billion as estimated economic cost savings, create 3,000 employment opportunities for drivers and 2,000 job openings for other support staff.
The last paragraph spells out the death of an Independent Nigeria. China is not selling them the buses. They are being financed. When Nigeria defaults, the Chinese will step in and demand a sizable chunk of the Nigerian Oil fields as repayment. This is what they do with their belt-and-road initiative. They go in, loan money for infrastructure and when the parent Nation defaults, they will take over a port city, a national resource, a utility...
Add to that, the buses will never run. I am betting that they will have less than 100 on the road at any given time. The Nigerian people will be screwed again, a few Nigerian politicians will put more money in their Swiss Bank accounts and China will extend its reach even further.
If we had strong leadership, we could raise a complaint about this encroachment. Sigh...
Leave a comment