|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,739,150 members, 6,495,263 topics. Date: Saturday, 18 September 2021 at 09:05 AM
Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway / Buratai: Buhari Repaid My Father By Making Me Chief Of Army Staff / COVID-19: Buhari Approves Withdrawal Of $150m From Sovereign Wealth Fund (2) (3) (4)
|Chinese Loan: Federal Govt Has Repaid $150m — Amaechi by gistsmill04: 9:19am On Jun 17|
Rotimi Amaechi, the Minister of Transportation, claims that the Federal Government has repaid up to $150 million of a $2 billion loan to China for rail construction.
On Wednesday, Amaechi claimed this while responding to questions on Channels Television’s “Politics Today” program.
President Muhammadu Buhari’s administration only borrowed for the Kaduna-Abuja and Lagos roads, according to the ministry.
When asked how much of the Chinese loans the Federal Government has repaid, Amaechi said, “The right ministry to respond to that question is the Ministry of Finance; they borrow and they repay, but I think the last I heard about it, it was between a $100 million and $150 million repayment that we have done so far in the Kaduna-Abuja region.”
“Remember, we haven’t borrowed any money yet; the only money we’ve borrowed is for the Kaduna-Abuja and Lagos-Ibadan routes.
“We borrowed roughly $1.5 billion for Lagos-Ibadan, but the loan hasn’t matured for repayment; what has matured for repayment is the Kaduna-Abuja, which is being repaid.
“Nigerians believe we borrow a lot, yet the only projects we’ve borrowed money for are Kaduna-Abuja ($500 million) and Lagos-Ibadan ($1.5 billion).” As a result, in terms of the railway, our overall debt exposure at the Ministry of Transport is around $2 billion.”
|Re: Chinese Loan: Federal Govt Has Repaid $150m — Amaechi by FODA(m): 9:34am On Jun 17|
|Re: Chinese Loan: Federal Govt Has Repaid $150m — Amaechi by Redoil: 9:36am On Jun 17|
show us proof of payment
PDP Storm NASS, Stage Protest Against Onochie’s Nomination As INEC Commissioner / CP Hakeem Odumosu Warns Oodua Republic Agitators To Stay Clear Of Lagos / 2020 IgbereTV Educationist Of The Year, Prof Owunari Elected 9th UNIPORT VC
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 49