United States Export Import Bank (US-EXIM) in partnership with an American multinational engineering firm, AECOM, has offered to grant a loan to help Nigeria fund infrastructure development in the country.

The US EXIM Bank indicated interest to finance a loan of up to 85 of 100 per cent of total project cost.  In accordance with the Organization of Economic Cooperation and Development Arrangement on official export credits, the foreign buyer is required to make a 15 per cent cash payment.

In addition to the 85 per cent, US EXIM Bank said it can support up to 30 per cent in local cost, that being in-country cost sourced in Nigeria that are vital to the project’s success. a portion of the skilled, semi-skilled and unskilled labour as well as the civil engineering for the physical infrastructure but want Nigeria government bilateral engagement with US Government either through US Embassy commercial Department or Ministry of finance.

AECOM, an American multinational engineering firm that provides design, consulting, construction, and management services to a wide range of clients and US-Exim-bank indicated interest in assisting federal government of Nigeria in Infrastructure development.

AECOM country infrastructure development Coordinator, Musa Ibrahim Kuchi had earlier submitted the company programme to Permanent Secretary of Ministry of Transportation, Zakari Sabiu.

The High Speed Rail was proposed for Coastal States corridor. Cutting travelling time 11 hours from Lagos to Calabar by road to less than 3 hours by bullet Train.

Additionally, recommendations were made in the submission to federal government of Nigeria to diversify the economy through rail infrastructure development by linking all Nigeria Port to the Coastal Rail Line network and to solid minerals and agriculture producing states in the country to stimulate export, including a rail port in Lekki-Lagos. As well as upgrading all the Coastal Port to combined capacity of 400m tpy.

AECOM a Fortune 500 company has approximately 87,000 employees and operates in 150 countries. With Major projects in China, Russia, UK and USA. AECOM Designed and supervised the Hefei-Fuzhou PDL in China. Project of Beijing to Fuzhou HSR which cuts the travel time between the capitals of the Anhui and Fujian provinces from eight hours to less than four hours, was important milestone in China’s national railway project as it was unprecedented to appoint a foreign consultant to provide professional construction supervision service. Some other hallmark project including One World Trade Center New York America. Crossrail London, is the largest construction project currently undertaken within Europe.

The Taizhou Bridge is an iconic build within China, with the tallest central pylon situated within its construction at 200 metres.

The bridge was built to accommodate six lanes and links several cities in order to cater for China’s growing population and developing economy, and Etihad Towers, UAE.

The High Speed Rail was proposed for Coastal States corridor. Cutting travelling time 11 hours from Lagos to Calabar by road to less than 3 hours by bullet Train.

Blue3k:


Amaechi should hop this ASAP the coastal railline would be one of the more profitable routes in terms of passenger rail traffic. It will be good for interstate commerce. I trust the American work more than the Chinese any day. Besides this company seems to do good work. I do like their how their terms are transparent aswell.

pdiddy100:
Haters will not like this
Waiting for them....
They said Buhari is clueless
They chose mr thief
They will wail for ever
You know "they" nah

designking:
These are empty offers. The America based investors always propose big offers but that is where it ends. No action or move to actualize their talks.

The Chinese remains the only true investors willing to help build our infrastructure.

Where is the GE mega power generation plant they propose few years back? US investors likes talks and memo too much.

Blue3k:


Amaechi should hop this ASAP the coastal railline would be one of the more profitable routes in terms of passenger rail traffic. It will be good for interstate commerce. I trust the American work more than the Chinese any day. Besides this company seems to do good work. I do like their how their terms are transparent aswell.

designking:
These are empty offers. The America based investors always propose big offers but that is where it ends. No action or move to actualize their talks.

The Chinese remains the only true investors willing to help build our infrastructure.

Where is the GE mega power generation plant they propose few years back? US investors likes talks and memo too much.

tysontim:
If Amaechi and Tinubu did not take up this then they as useless to South as P

Lymasaba:
that's wat the useless America Should be doing from the start. To help Nigeria become industrialized nation and see how China will get cut off, since their dominance is in west africa

olajide8:


They lost out in the race for africa - when china was on rampage - they are slow to the development party in nigeria obama biggest mistake

fasterwell:
This is what u get when integrity and honesty are found in the president elect


Wnat do u expect when President Trump personally signed his congtatulatory message to President Buhari on his re-election?

The world is getting Buharified

designking:
These are empty offers. The America based investors always propose big offers but that is where it ends. No action or move to actualize their talks.

The Chinese remains the only true investors willing to help build our infrastructure.

Where is the GE mega power generation plant they propose few years back? US investors likes talks and memo too much.

designking:
These are empty offers. The America based investors always propose big offers but that is where it ends. No action or move to actualize their talks.

OlujobaSamuel:
Hmmmmmmm, make Una sha bẹ careful, this one they are the one offering us and not we requesting. Let the project also be like the Chinese ones we have been having, they should carry out the project themselves using our people and theirs to pass knowledge.
No giving of cash to anybody, we no wan hear tori later on o

seunfly:
Western world has been crying like a baby since China has started investing in Africa, they have played every game to derail Africa/China infrastructural partnership and it has not been successful now they have no choice but to join the partnership.

DeLaRue:


Things are changing. America wants to challenge China's growing influence in Africa. The Trump administration is setting up a new fund entirely which will be focused on establishing US investment foothold in Africa in order to reduce Chinese influence and control.

This new strategy is a big deal as it is US government money. Not private US companies like GE.

The fund will apply to projects across Africa, not just Nigeria. Saying that, the US investment is unlikely to match China's but it will still be a win for African countries.

I personally believe this could be the best investment news for Nigeria in several years. I hope the Buhari government will grab this opportunity with open arms. But, don't bet on it as Nigeria may be afraid of upsetting China which is lending us so much. That will be a grave error. We need to play both sides.

The 2 elephants want to fight in our territory. If we play our diplomatic game right, there will be one winner. Nigeria.

Ije004:
This coastal rail project was Gen. Olusegun Obasanjo administrations idea in the 70s. Oil boom money could have finished this back then.

Blue3k:


Source: https://leadership.ng/2019/03/05/us-exim-bank-aecom-offer-support-for-nigerias-infrastructure-devt/amp/

Blue3k:


Amaechi should hop this ASAP the coastal railline would be one of the more profitable routes in terms of passenger rail traffic. It will be good for interstate commerce. I trust the American work more than the Chinese any day. Besides this company seems to do good work. I do like their how their terms are transparent aswell.