The Minister of Transport,
Mr Rotimi Chibuike Amaechi,
Wednesday, announced that
General Electric, GE, would
invest $2 billion in the
country’s rail projects.
The minister, who made this
disclosure while speaking
with CNBC, said the Federal
Government was in search of
Public-Private Partnership,
PPP, funding in the Nigerian
transportation sector.
According to him, “GE is
already in; we are trying to
get the government agencies
to allow us negotiate with GE.
The company is going to
bring in over $2billion in the
Nigerian railway sector, in
which they are going to
revive the Lagos-Kano
narrow gauge and revive
the Port Harcourt-Maiduguri
narrow gauge by private
investment.
“It is good that such kind of
funds will come into the
economy, it will create
employment, it will increase
business and everybody will
be part of the process.
“The government does not
need to bring all the funds.
What government is doing
here is to initiate it, there
are two things we are doing
there; we will start with the
construction of Lagos-Kano
and Lagos-Calabar.’’
Amaechi, who reiterated that
President Muhammadu Buhari
would flag off the Abuja-
Kaduna rail line early July,
stated that government
would commence work on the
Lagos-Ibadan segment of
the Lagos-Kano this year.
“We are taking a loan from
China EXIM bank, the loan is
not partnership. But one of
the requirements for which
we will take the loan is that
the contractor must come
from China, that we have
fulfilled by engaging CCECC.
Missing ad type
“We will be looking at about
$3.5 billion and we should be
able to employ as many
people as possible to do that
construction. Our plan is to
ensure that CCECC is able to
conclude it between two to
three years,” he said.
‘’We are going to invite as
many private investors as
possible to see how they can
assist the country achieved
its rails projects.
“If government takes the
Lagos-Kano and takes the
Lagos-Calabar, we expect
the others to be PPP funding.
“We believe that people
know how big the Nigerian
market is and that once you
invest your money, the
chances are that you will
recoup that money, whether
by freight or by passenger
transportation”, he added.
Amaechi, who gave a load
down of the amount the
country had saved from the
negotiation of the projects,
said: “Basically, the contract
from Lagos to Calabar was
awarded initially at $11.97
billion, we had to negotiate
that one and that was why
we couldn’t submit it the
same time we submitted the
Lagos-Kano.
‘’We negotiated that one
from $11.97 billion to $11.17
billion, saving the country $
800million.’’

mamabomboy:
Ameachi is a lying occultic womanwrapper attention seeking corrupt blood thirsty vampire.