$5.3bn Chinese Loan Delaying Ibadan-Kano Railway Construction –Amaechi

$5.3bn Chinese Loan Delaying Ibadan-Kano Railway Construction –Amaechi
Rotimi Amaechi

Minister of Transportation, Rotimi Amaechi has revealed that the construction of the Ibadan to Kano railway will commence once the Chinese government approves its $5.3bn loan to Nigeria.

The Minister made this known at an event in Abuja on Saturday.

He stated that the Federal Government had given approval for the contract.

Also Read: Former Lawmaker, Shehu Sani Accuses FG Of Using Huge Loans To Buy Substandard Chinese Railway Locomotives

He was quoted in a statement issued in Abuja by his media aide, Taiye Edeni, as saying, “We are waiting for the Chinese government and bank to approve the $5.3bn to construct the Ibadan-Kano. What was approved a year ago was the contract.

“The moment I announced that the Federal Government had awarded a contract of $5.3bn to CCECC (China Civil Engineering Construction Corporation) to construct the Ibadan-Kano railway, people assumed the money had come in; no.”

The minister added, “We have not got the money, which is a year after we applied for the loan. We have almost finished that of Lagos-Ibadan. If we don’t get the loan now, we can’t commence.”

Amaechi also revealed that the Ibadan-Kano rail line would link over six strategic locations in Nigeria, including Kaduna, Kano, Abuja, Minna, Ilorin, Osogbo, and Ibadan.

He added that cargoes could be moved to Kano from Lagos on the railway.