The Minister of Transportation, Mu’azu Sambo, has said the Federal Government will borrow money to facilitate the completion of rail projects in the country.

Sambo disclosed this yesterday while delivering the ministry’s scorecard in Abuja.

“We don’t have the money. We are going to borrow anyway. So, we thought whatever the standard gauge will give us, the narrow gauge will also give us,” he said.

Reacting to a question on why the South-East was restricted to narrow gauge rail lines, the minister said the zone was yet to be marginalised on the rail projects being executed by the President, Major General Muhammadu Buhari (retd.)-led administration.


“There is no deliberate attempt whatsoever to marginalise the South-East and if anything, that is the one part of the country that has benefited the most from PMB infrastructure projects.


“The narrow gauge you probably are referring to is the one that runs from Maiduguri, all the way through Jos, up to Port Harcourt.

“If that is the one you are talking about, first of all, I will let you know that Maiduguri, Jos, and several other cities the rail lines traversed are not in the South-East.”

He also said there is the narrow gauge contract “that was being considered by my predecessor in office,” which had two options — “either to rehabilitate the narrow gauge at a cost of about $3 billion or to do a standard gauge at a cost of about $12 billion.”

Speaking further, he said that the pros and cons of the corridor, the narrow gauge would convey more cargos, adding that the only difference between the narrow gauge and the standard gauge was the speed.

Justifying his position that the South-East zone benefited the most, the minister said, “the Buhari-led administration constructed the second Niger Bridge that had defied all previous governments.”

Source: https://punchng.com/FG-will-borrow-to-fund-rail-projects-Minister

Why don't FG borrow from the money Tinubu stole tru three bullon van that drove to his house in Lagos , don't vote Tinubu he is a thief

When they eventually build the rails of the south-east, which is when they have finished that of other African countries...

APC has been stealing our oil and export tax earnings, they will borrow to fund bogus infrastructure projects, thus destroying our economy and country and expect our praise.
Criminal party

Atiku is coming

don't NIGERIANS deserve to know the interest rate of these loans,the payment method/plan and the period the loan will be completely paid....it's the right of Nigerians to know all these... Tunisia will be borrowing and they already have a payment plan of five years and 30months of Grace. ...that's a sane government...black africa is really a disaster

Haa

Don't forget to check our signature

Ok

As usual.

PUBLIC SYMPATHY - A TREASURE TINUBU AND ATIKU CANNOT BUY NOW IN THE HANDS OF PETER OBI.

Public sympathy brought Obansajo to power...How? He left prison and became your President...he was seen as a no nonesense man and prudent.

Public sympathy brought Yaradua to power....How? He was seen a simply and humble man, remember he was a lecturer before becoming a Governor...he lived a simple life during his time as Governor of Kastina State.

Public sympathy brought Jonathan to power...How? Just like his late principal Yaradua, he was also a lecturer before becoming a vise Governor of Bayelsa State then he became the Governor, later a vise President then your President..
he rode on the famous "i have one shoe" sympathy story that won him to the hearts of Nigerians like what Peter Obi is currently doing.

Public sympathy brought Buhari to power...How? Just like Yaradua he was seen as a simple and strict man, something Peter Obi also added to his campaign book. Remember the famous "Buhari drinking Milo" and "I borrowed money to buy my Presidential form"?

As you can see, public sympathy has been very effective since 1999 and would continue, this is one treasure Tinubu and Atiku don't have even with their billions.

Lastly, make I shock you...Nigeria has never had a billionaire President and will never have one because the corridor of power is surrounded by people who don't want their ego diminished under a Billionaire boss. The last attempt was by Abiola, we all saw how it ended.

Tinubu and Atiku will never be Nigeria's President...Why? The sudden change of naira notes is just one of the many obstacles the forces(retired and active) in and outside Aso Rock will employ to frustrate them...something Buhari will not have control over.

Peter Obi is the only Presidential candidate mirroring the public sympathy enjoyed by former Presidents since the return of democracy, an evidently very effective weapon.

Chaii.

Buhariiii e don do naaaa

Don't forget that Tinubu is Buhari pro max²

Railway that less than 5 percent of your entire population will use, then the entire population will be paying for it, not only that, in order of priority right now in Nigeria is railway a topmost priority?

Always borrowing

adenigga:


Source: https://punchng.com/FG-will-borrow-to-fund-rail-projects-Minister

The borrower will always be servant to lender.

Messed up country

God pls y am I here?

Borrowing on wasted effort

This one wan chop him before their tenure finish, Amaechi no leave change for am

APC

Administrating

Pains

Commission.

Borrow to fund rail project
Borrow to pay lecturers on strike
Borrow for Federal Budget
Borrow to start Nuclear reactor
Borrow to steal .
All on Oil ?
And you can’t borrow to fix the refinery

These criminals are still borrowing with just few months to leave office.

It will NEVER be well with APC and PDP supporters in this life and afterlife.

If you like vote rubbish next year. Your body go tell you.

Did he steal your family's money?
Respect yourself next time

Antyislam:
Why don't FG borrow from the money Tinubu stole tru three bullon van that drove to his house in Lagos , don't vote Tinubu he is a thief

nonsense

This government just like to borrow. That's why the citizens are borrowing from loan apps too.




In another news, come and buy your cassava peel quickly. Our customers from the north are already making inquiries. The price is quarter to go up.

They are not borrowing to fix Electricity. Some wey we need pass na rail them dey borrow

Abeg

slivertongue:
A disaster administration borrowing tomorrow to waste it today.

Exactly, quite unfortunate

I no get money build house so I go borrow build house.
House weh I Wan borrow money build I go rent am out collect the money take pay the igbese monthly till e finish.
But casala de, I borrow 24m from bank to take build the house, bank say make I de pay 600k per month for 5 years. But when I calculate all the rent weh the house go generate na just 50k per month. All my salary and business too na another 50k making total income of 100k.
So if I take the loan, na how I go fit service the IGBESE?
What will you advice I do?
Chill for a while to save and improve my finances.
Or take the loan anywhich way. Allah will provide a means to pay the debt, I can also take more loans from other banks to enable me pay the 600k monthly payment.

Who are those instigating this borrowing idea cef

Brendaniel:
Railway that less than 5 percent of your entire population will use, then the entire population will be paying for it, not only that, in order of priority right now in Nigeria is railway a topmost priority?

Railway that cannot even fund its purchase of diesel, pay salaries, not to talk of service existing debt.

Antyislam:
Why don't FG borrow from the money Tinubu stole tru three bullon van that drove to his house in Lagos , don't vote Tinubu he is a thief

The money should be in dollars. If you want to buy parts in USA or CAN or china, you use dollars. Nobody knows the naira.


Are you saying they should print 5 trillion in naira, and carry it to buy train parts in China

The question is, how much is our dollar account?

We sell oil to other countries, dollars come in.