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FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line (14617 Views)

Amaechi: $5.3 Billion Chinese Loan Delaying Ibadan-Kano Railway Construction / FG Commences Ibadan-Kano Railway Project (Photos) / Buhari Approves ₦123 Bilion For Ibadan-Kano Rail (2) (3) (4)

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FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by NofiuFade(m): 8:36pm On Jan 09
The federal government will begin work on the construction of the Ibadan-Kano rail project as soon as the Chinese government approves the sum of $5.3bn loan application, Minister of Transportation, Rotimi Amaechi has said.

Amaechi, stated this as a guest of the Nigeria Television Authority, NTA, Weekend Deal Programme, monitored by our correspondent in Abuja.

He said: “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 the China Civil Engineering Construction Corporation, CCECC to construct Ibadan-Kano; they assumed the money had come in. No!

“Up till now, we have not gotten the money a year after we have applied for the loan; we have almost finished the one of Lagos-Ibadan. If we don’t get the loan now, we can’t commence,” he added.

The Minister added that upon completion, the Ibadan-Kano rail would link the Kaduna-Kano-Abuja-Minna-Ilorin-Oshogbo-Ibadan where cargoes could be moved to Kano from Lagos.

On the issue of wet cargoes on the road resulting in vehicular accidents, Amaechi noted that henceforth, cargoes would be conveyed from Lagos to Ibadan only.

He stated that when the Ibadan to Kano rail project is completed, wet and dry cargoes can be transported from Lagos to Kano.

“Nigeria should be more patient with the Ministry of Transportation over the issue of wet cargoes. Currently, we are trying to construct the railway into the seaports to enable us to transport either wet or dry cargoes to various destinations. The only wet cargoes that can go now is between Lagos to Ibadan.

“The moment we conclude that we will be able to move wet cargoes all the way to Kano from Lagos. We should also commence the construction of Port Harcourt to Maiduguri and be able to move cargoes from Bonny to Maiduguri,” he said.

On the funding of various rail projects across the country, Amaechi said the Ministry of Finance is in charge of funding and not the Ministry of Transportation, adding however that Ministry has a Presidential seal of approval to seek loans to fund rail projects for the benefit of Nigeria and Nigerians.
https://www.vanguardngr.com/2021/01/fg-awaits-5-3bn-chinese-loan-for-ibadan-kano-rail-line/

8 Likes 1 Share

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Saao(m): 8:39pm On Jan 09
What's wrong with them? Upon all the warning about Chinese loans? Buhari will mortgage this country before leaving power.

80 Likes 5 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by CodeTemplar: 8:48pm On Jan 09
By the time bubu is done, the average loan repayment per capita will be over 1million Naira.
He is already gathering the NIN, contacts and details of educated folks to hand over to Chinese I guess.

101 Likes 9 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Stainlezzking: 8:48pm On Jan 09
grin grin grin
I laugh in Chinese
Go and browse about Dubai and see how much it cost them to build some of the greatest tourist attraction, then you'd see the real value of $1b but here in Nigeria they'd borrow billion$ like they're trying to build underground city not knowing that it's train that every other country has that they're building

Omo when china complete money buy Nigeria
Please call me Wang tong lee

 God save Nigeria 

213 Likes 12 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by STEWpid: 8:55pm On Jan 09
Phuck!

This kind of news dey weak person balls..

8 Likes 1 Share

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Kapeter(m): 8:58pm On Jan 09
Shey it sha will pass Ondo state? If not thunder fire Bubu and Amaechi.

17 Likes 3 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by slawormiir: 9:03pm On Jan 09
Damnnn niggarrrr
Isoright .....

Chinese are balling...them dey use africa count scores...especially Nigeria


Na im my client still dey complain say she nor get money
Make I chat her up....she must go borrow from Agricultural bank of China tomorrow

37 Likes 3 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Akpuobi1: 9:03pm On Jan 09
China have officially purchased Nigeria.

I hope they have proper plan to service these loans

6 Likes

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Ernerstdavid55(m): 9:04pm On Jan 09
angry
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by DoctorDree(m): 9:04pm On Jan 09
APC and loan be like 5&6

16 Likes 4 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by globalresource: 9:04pm On Jan 09
If you ask APC member the success of this government they wil tell you Ibadan Lagos rail which was built and overated by bogus loan collected from china. what are they doing with our money- the internally generated from oil sales, Custom, FIRS and host of others. I do not know( looting it) Very Stupid government. Den of Thieves

Anyone that call this government anti corruption will see the wrath of God. Heartless people and liars

#Yahoo men in Aso Rock

66 Likes 8 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Azmanaty: 9:04pm On Jan 09
It is time that clueless C-in-C and all his supporters die so this country will be liberated

Their death will bring a breath of fresh air to this country


My south east people will not contribute a dime to d loan repayment, afterall the bigot at Aso-Rock didn't deem it fit to construct a single rail track in the SE. The north and southwest will be the ones to repay those Billion dollar loans

34 Likes 2 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by thatigboman: 9:04pm On Jan 09
Na waoh, which kind 1 chance be this? Awaiting china loan to construct ibadan-kano rail line, while kano- niger republic railway line way is being constructed non-stop with Naija Delta oil money. What arrant nonsense.
600 years of intense suffering to lord lugard, renewable everyday.

10 Likes

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Rockyfancino(m): 9:04pm On Jan 09
Country is gone
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by primestreams: 9:04pm On Jan 09
grin Any way I have started to learn Chinese

3 Likes

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by iamJ(m): 9:04pm On Jan 09
cheesy these loans aren't direct cash

But make una wail grin

5 Likes 2 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by PCG001: 9:04pm On Jan 09
ɨ ʀɛքɛat.....
ɨ ɮɛʟɨɛʋɛ ʊҡ 2050 քʀօʝɛċt
tɦaռ
9ʝa 2021 օռɢօɨռɢ քʀɛsɛռt քʀօʝɛċt ɮɛċaʊsɛ օʊʀ ɢօʋɛʀռʍɛռt ʍaʏ ռօt ʄɨռɨsɦ tɦɛ քʀօʝɛċt ʄօʀ tɦɛ ռɛxt 600ʏɛaʀs tօ ċօʍe undecided
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Zico5(m): 9:04pm On Jan 09
5.3 billions on rail alone when poverty is at highest level. It shall never be better for these people. How can this country move forward with these wasteful manner for God sake. Is it not better to divert this particular money to something that will surely lift Nigeria out of poverty. Our refinery is moribund, money market is catastrophic, yet they are borrowing billions of dollars to build liability that the half of the money will be looted.

17 Likes 1 Share

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by olayinks007(m): 9:05pm On Jan 09
NofiuFade:
The federal government will begin work on the construction of the Ibadan-Kano rail project as soon as the Chinese government approves the sum of $5.3bn loan application, Minister of Transportation, Rotimi Amaechi has said.

Amaechi, stated this as a guest of the Nigeria Television Authority, NTA, Weekend Deal Programme, monitored by our correspondent in Abuja.

He said: “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 the China Civil Engineering Construction Corporation, CCECC to construct Ibadan-Kano; they assumed the money had come in. No!

“Up till now, we have not gotten the money a year after we have applied for the loan; we have almost finished the one of Lagos-Ibadan. If we don’t get the loan now, we can’t commence,” he added.

The Minister added that upon completion, the Ibadan-Kano rail would link the Kaduna-Kano-Abuja-Minna-Ilorin-Oshogbo-Ibadan where cargoes could be moved to Kano from Lagos.

On the issue of wet cargoes on the road resulting in vehicular accidents, Amaechi noted that henceforth, cargoes would be conveyed from Lagos to Ibadan only.

He stated that when the Ibadan to Kano rail project is completed, wet and dry cargoes can be transported from Lagos to Kano.

“Nigeria should be more patient with the Ministry of Transportation over the issue of wet cargoes. Currently, we are trying to construct the railway into the seaports to enable us to transport either wet or dry cargoes to various destinations. The only wet cargoes that can go now is between Lagos to Ibadan.

“The moment we conclude that we will be able to move wet cargoes all the way to Kano from Lagos. We should also commence the construction of Port Harcourt to Maiduguri and be able to move cargoes from Bonny to Maiduguri,” he said.

On the funding of various rail projects across the country, Amaechi said the Ministry of Finance is in charge of funding and not the Ministry of Transportation, adding however that Ministry has a Presidential seal of approval to seek loans to fund rail projects for the benefit of Nigeria and Nigerians.



https://www.vanguardngr.com/2021/01/fg-awaits-5-3bn-chinese-loan-for-ibadan-kano-rail-line/


And another one *in DJ Khalid's Voice *

Won ti ta Nigeria se.

4 Likes

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by money121(m): 9:05pm On Jan 09
Ok
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by oluwaseunamos33(m): 9:05pm On Jan 09
Na that loan go kill you all. Nonsense leaders

3 Likes 3 Shares

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by ellajoe(m): 9:06pm On Jan 09
When we ready to start another country make them tell us so we start to dey clear ground
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by byrron(m): 9:06pm On Jan 09
Nigeria's existence is now dependent on a borrowed future cry cry cry

2 Likes 1 Share

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Magnumproperty: 9:06pm On Jan 09
Make federal government no go hustle make dem dey wait for chinko loan
Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by endsarrrs(f): 9:06pm On Jan 09
sad i think wike is wicked angry why will he pay school fees for only for science students in public sch.

1 Like

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by Memphis357(m): 9:06pm On Jan 09
"Borrow-hari" on the beat again.

2 Likes 1 Share

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by JoeEeL(m): 9:06pm On Jan 09
You'll still see some backward muntulas come cheer the moribund train.

You heard the amount right? 5.3 billion dollars. What happened to the other 3 billion dollars they borrowed?

Politicians are eating away your future right in the front of your eyes yet some fooooooooooooooooooools will still come here showing over-edited pictures and preaching 2023.

Nigeria kee una there! Mofoes!

10 Likes

Re: FG Awaits $5.3 Billion Chinese Loan For Ibadan-kano Rail Line by obembet(f): 9:06pm On Jan 09
When sowore protest, una dey insult him.. una eyes go open Las las

15 Likes 1 Share

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