$ 5.3 billion Chinese loan that delays construction of the Ibadan-Kano railroad

The federal government said on Saturday that construction of the Ibadan-Kano railroad will begin after the Chinese government approves a $ 5.3 billion loan to Nigeria.

Transport Minister Rotimi Amaechi, who announced this on the Abuja program, said the federal government had approved the contract.

He was quoted in a statement published in Abuja by his media assistant Taye Edeni, which said: “We are waiting for the Chinese government and bank to approve the $ 5.3 billion for the construction of Ibadan Kano. The contract was approved a year ago.

“By the time I announced that the federal government had signed a $ 5.3 billion contract with the China Civil Engineering Corporation (CCECC) to build the Ibadan-Kano Railroad, people thought the money had come; no “

The minister added: “We have no money, that is, a year after we asked for a loan. We almost finished one in Lagos Ibadan. If we don’t get the loan now, we won’t be able to get started. ”

Amaechi said the Ibadan-Kano railway line will connect six strategic points in Nigeria, including Kaduna, Kano, Abuja, Minna, Ilorin, Osogbo and Ibadan, adding that goods could be moved to Kano from Lagos by rail.

Regarding concerns that tankers could cause accidents in the roadstead, the minister said that currently, cargo can only move from Lagos to Ibadan.

Amaechi said: “Nigeria needs to be more patient with the Federal Ministry of Transport on the issue of wet cargo.

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“We are currently trying to build railways in seaports so that we can transport wet or dry cargo to various destinations. At the moment, wet cargo can only move between Lagos and Ibadan.

“But by the time we connect the railways with the seaports, we will be able to transport wet cargo from Lagos to Kano. We also need to start building the Port Harcourt in Maiduguri and we need to be able to move cargo from Bonnie to Maiduguri. “

Source: – Punch ng