The Federal Government may borrow loans from China, Portugal and Turkey to complete ongoing rail projects across the country.
Naija News reports that the Minister of Transport, Mu’azu Sambo, made this known on Thursday to the Joint National Assembly Committee on Land and Marine Transport.


Sambo expressed hope that the Ministry of Finance concludes negotiation of the loans with infrastructure development finance institutions of Chinese, Portuguese and Turkish origin to implement the projects.

He disclosed that the implementation of the Kaduna-Kano, Port Harcourt to Maiduguri and Kano-Maradi Segments of the Railway Modernization is ongoing which is being counterpart funded by the Federal Government in the 2022 appropriation.


He also said that the Lagos – Ibadan segment of the Lagos – Kano and Itakpe to Warri railway projects were fully operational and enjoying patronage from the general public.

The minister stated that his ministry was committed to the implementation of the Nigeria Railway Modernization project.

He said: “Currently, the implementation of the Kaduna-Kano, Port Harcourt to Maiduguri and Kano – Maradi Segments of the Railway Modernization is ongoing with the Federal Government counterpart funding in the 2022 appropriation.


“The Ministry hopes that the Federal Ministry of Finance concludes negotiation of the loans with infrastructure development finance institutions of Chinese, Portuguese and Turkish origin to implement the projects.

“To ensure finalising and signing of the loan agreements, evidence of source of funding of the balance of the advance payment and other aspects of work to be financed directly by the Federal Government has to be made available to these financial institutions through adequate budgetary provisions in the year 2023 budget and subsequent budgets.”

Source: https:///FG-May-Borrow-Loans-From-China-Turkey-Portugal-To-Complete-Railway-Projects

Just sell this country already

Nigeria and borrowing. We need minister for borrowing.

Since amaechi left the ministry of transport has been performing poorly or is it lack of publicity

that port harcourt to maiduguri is very important.

it will connect the east to the middle belt and north east(two zones with massive food production), so food go cheap for east and south south.


nothing concern me with kano to maradi (niger republic)

By the time bubu is done with Nigeria, even his successor will forever regret the day he bought the presidential form

Kai who did we offend to get such people into power!

On a normal e no suppose better for anyone supporting APC to continue with this menace in 2023

VOTE WISELY
VOTE OBI/DATTI

Yet, some are embezzling billions of naira on a daily basis. What a joke of a country!

https://www.youtube.com/watch?v=3V07T6tf5gY

https://www.youtube.com/watch?v=OlW_bB1rSkk

https://www.youtube.com/watch?v=5-N5KRUf-A4

https://www.youtube.com/watch?v=jzk2Y-KE3nc

https://www.youtube.com/watch?v=tbOyxLknr1Y

https://www.youtube.com/watch?v=wAWsM9XzwAU
We’re kicking old men out of power next year – Wizkid

Nigerian music superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid, says it is time to retire old politicians from politics.

Rail ways that dont include South east
They should continue

As it stands now, other world leaders fit don dey dodge if dem see Bubu walking towards 'em. Debtor President in charge, always on the lookout for the next handout!

adenigga:




Source: https:///FG-May-Borrow-Loans-From-China-Turkey-Portugal-To-Complete-Railway-Projects

Op which one is borow Loans?

Rubbish

awosejo1955:
m

Nigerian music superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid, says it is time to retire old politicians from politics.

Guy you're spamming with all these unnecessary videos.
it makes comments unreadable

Can't you just pass your message with a video?

We need to borrow five hundred billion dollars and use it with sense to build infrastructure.
Fashola is good building infrastructure.

I wish those countries can just say NO before they even try to bring up the deal. Enough of pocket enrichment. What we should even think of is maintenance. The one we get we never fit maintain am na to put the nation under bad predicaments...

Ebubu:
that port harcourt to maiduguri is very important.

it will connect the east to the middle belt and north east(two zones with massive food production), so food go cheap for east and south south.


nothing concern me with kano to maradi (niger republic)

Yea, you right, I hope they'll start Lagos to Calabar Atlantic Rail or wetin dem call am self

So long as it is for the railways...good.

Have Abuja/Kaduna Railway Line resume work?
What is the need after borrowing money to construct railways Bubu boys wont allow it to operate.

Ebubu:
that port harcourt to maiduguri is very important.

it will connect the east to the middle belt and north east(two zones with massive food production), so food go cheap for east and south south.


nothing concern me with kano to maradi (niger republic)

Is Portharcourt to Maiduguri standard gauge? Or outdated Narrow gauge being restored? While modern standard gauge goes for Buhari's side of the north and the SW. That's the conspiracy of APC from the beginning.

As long as it becomes fruitful.

Borrowing for projects that benefit only their evil agenda.

Thifnubu deceived Nigerians that Buhari is the only savior for them.

Today the same Deadwood want to save NIGERIA from the only savior.


IT TAKES A BRAIN DEAD TO SUPPORT TINUBU AND APC.

Kukuma finish the country entirely, borrowing to re-loot again.

APC...hmmm

T

Did i just read Portugal. As in borrow from Portugal

forgiveness:
As long as it becomes fruitful.

How? Let them show Nigerians there Sustainability plan

Continue