Chinese Govt To Loan Nigeria N80B For Abuja Light Rail - Business - Nairaland
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| Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by asha80(m): 12:15am On Dec 01, 2011 |
FG to get N80b loan from Chinese Govt for Abuja Light Rail On November 30, 2011 · In News Abuja – The Federal Government plans to obtain a soft loan of about five million dollars (N80 billion) from the Chinese Government to complete the Abuja Light Rail Project. Mr Ahmed Wadada, the Senior Special Assistant on Project Monitoring and National Assembly Matters to the FCT Minister, Sen. Bala Mohammed, disclosed the plan in Abuja while speaking with newsmen. Wadada said the rail project was important to the FCT administration, adding that the loan was part of the contractual agreement that would better the lives of Nigerian through the execution of projects. He said that the problem of funding had been taken care of, as fund would come from Nigeria. The remaining is a soft loan from the Chinese Government and the process would soon be concluded. The senior special assistant said the fund would soon be made available, adding that both governments had concluded the process concerning the soft loan. Also speaking, the Project Manager of the Chinese Civil Engineering Construction Company, Mr Charles Chang, gave the assurance that the company was committed to executing the job as expected by the Nigerian Government. He said that out of a total of 96 culverts needed to be constructed on the rail right of way, only 26 were ready while 35 kilometres track was completed out of the 64 kilometre track. He said that the construction of the sleepers had reached an advanced stage, adding that coaches, as well as five bridges for the project were ready. (NAN) http://www.vanguardngr.com/2011/11/fg-to-get-n80b-loan-from-chinese-govt-for-abuja-light-rail/ |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by asha80(m): 12:16am On Dec 01, 2011 |
na wao more borrowing |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by obowunmi(m): 12:42am On Dec 01, 2011 |
Someone will chop this money, More politicians can send their children abroad. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Kobojunkie: 12:56am On Dec 01, 2011 |
um . . . we already borrowed about a billion from chinese investors to renovate existing rail in places like Kaduna, and the rest. Another 1 Billion go come kill naija? nah!!! We gerram for cash! |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Xionez(m): 9:59am On Dec 01, 2011 |
Pumping fuel into a sinking ship. Hope they have someone to make sure the loan is utilized properly. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by executinal(m): 10:33am On Dec 01, 2011 |
asha 80:Nice, hope the project materialize and not to be abandon as usual |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by jascon1(m): 10:45am On Dec 01, 2011 |
haha. na wah. do we need to borrow even to build rails? ok! GEJ is endearing Nigerians to patronize "made in 9ja". why go far away to loan when we have billionaire$ in this country? according to forbes Dangote is worth over $2billion. $5m to help his beloved country that made him wont cut his sleeves. recently, a top woman bought an estate in europe worth $20m. cant we seek loan from her? as well as 6 other nigerians who made the billionaire$ list this year at least the interest rate will reduce or they may afterall forfeit the money as a give-back to fadaland. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Nobody: 11:15am On Dec 01, 2011 |
haha. na wah. do we need to borrow even to build rails? ok! GEJ is endearing Nigerians to patronize "made in 9ja". why go far away to loan when we have billionaire$ in this country? according to forbes Dangote is worth over $2billion. $5m to help his beloved country that made him wont cut his sleeves. LWKMD--- Do you guys just post for the sake of it. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Funkymallam(m): 11:54am On Dec 01, 2011 |
^^ Pls help me ask o |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by jascon1(m): 11:57am On Dec 01, 2011 |
are u asking ur ghost? |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by ov: 12:03pm On Dec 01, 2011 |
I wonder why we even borrow such money when ONLY one senator or governor will steal more than that and go scot free! 1 reason why d World Bank didnt want to cancel our depts those days was cus they felt several individuals in 9ja cus single handedly pay for d country. We have enuff money (with no interest attached o) for to execute d light rail and we de borrow from china to pay back with interest. Kai! 9ja can we really get better? |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Bawss1(m): 12:56pm On Dec 01, 2011 |
jascon1:  Post of the month. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by Kx: 12:58pm On Dec 01, 2011 |
jascon1:nothing do u jari! |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by aribisala0(m): 1:14pm On Dec 01, 2011 |
there are many rail lines which if built will pay there way because they are financially viable and such loans might be justified e.g. Port Harcourt to Aba Onitsha-Asaba_Benin Lagos-Benin i am not so sure about Abuja light rail which seems like a Prestige project |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by BCuZiMBlaCk(m): 1:19pm On Dec 01, 2011 |
ov:by the time your question is answered, i should have grown old and died |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by usbcable(m): 1:33pm On Dec 01, 2011 |
asha 80: sorry to ask this but is $5,000,000 equivalent to =N=80,000,000,000 |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by goggs(m): 1:38pm On Dec 01, 2011 |
I live in Abuja and any time I drive past the light rail I feel like crying. Why? Cos its a prestige project. Period. You see, Abuja depends largely on the suburbs and satellite towns of Nyanya, Karu, Madalla, Suleija, kuje and Gwagwalada for the bulk of its workers. every week day the roads are jammed with lots of man hours lost on road transportation. When the idea of the light rail came, I was ecstatic. Being a development professional, i thought the first consideration of transport planners would be to propose a rail line from three key traffic generating centers of Mararraba - Nyanya - Karu - Abuja and then Suleija - Madalla -Kubwa - Duste - Abuja and finally Kwali - Gwagwalada - Kuje - Abuja. The need is there, the passenger potential is enormous and crucially, the passengers have the capacity and incentive to pay. (Its faster and more convenient than existing modes, also potentially cheaper than driving) Alas, the mono rail is to link Abuja airport with the the city center (from what I see on ground). The question is are the passenger numbers enough to make this venture viable? For me I see that not many people will opt for a train over a taxi to the airport with attendant inconvinence of luggage handling at multiple locations (from terminal to train, from train to a taxi then from taxi to your home). Agreed that this number may be neglible, its still a consideration. I see that a greater need exists from the aforementioned routes than that of the Airport-City and also it makes sense engineering wise. Putting more people in trains relieve the stress on the roads, saves lives, promotes sustainable living, saves lost man hours, provides a cheap alternative to other forms of transport. Also, the volume of passengers means that the project can be self sustaining even privatised (with multiple companies running trains while leasing the rail lines from the government) or commercialised. Forgive my pessimism; unless some magic happens, i see that this is going to be another failed project. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by goggs(m): 1:39pm On Dec 01, 2011 |
usbcable: My question too |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by AjanleKoko: 4:37pm On Dec 01, 2011 |
usbcable: Na mistake. They actually meant $500 million. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by EvilBrain1(m): 10:16pm On Dec 01, 2011 |
Will someone please explain to me wtf Abuja needs a light rail system for? It already has by far the best roads and intrastructure in the country. And this is despite the fact that it is nothing more than an artificial government town that adds zero value to the nation's economy. Why can't they spend that money on something useful like standard guage railways connecting Lagos to the north and south east. Why do we have to spend so much money helping redundant, parasitic federal civil servants commute to their 10am to 2pm jobs? These people clearly have no clue what they are doing. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by razznaija(f): 5:03am On Dec 02, 2011 |
Some extra money borrowed for those fat, potbellied, ugly,selfish and disgusting things called politicians to steal. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by zumbigbo(m): 11:48am On Dec 02, 2011 |
Goggs Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail « #16 on: Yesterday at 01:38:24 PM » I live in Abuja and any time I drive past the light rail I feel like crying. Why? Cos its a prestige project. Period. You see, Abuja depends largely on the suburbs and satellite towns of Nyanya, Karu, Madalla, Suleija, kuje and Gwagwalada for the bulk of its workers. every week day the roads are jammed with lots of man hours lost on road transportation. When the idea of the light rail came, I was ecstatic. Being a development professional, i thought the first consideration of transport planners would be to propose a rail line from three key traffic generating centers of Mararraba - Nyanya - Karu - Abuja and then Suleija - Madalla -Kubwa - Duste - Abuja and finally Kwali - Gwagwalada - Kuje - Abuja. The need is there, the passenger potential is enormous and crucially, the passengers have the capacity and incentive to pay. (Its faster and more convenient than existing modes, also potentially cheaper than driving) Alas, the mono rail is to link Abuja airport with the the city center (from what I see on ground). The question is are the passenger numbers enough to make this venture viable? For me I see that not many people will opt for a train over a taxi to the airport with attendant inconvinence of luggage handling at multiple locations (from terminal to train, from train to a taxi then from taxi to your home). Agreed that this number may be neglible, its still a consideration. I see that a greater need exists from the aforementioned routes than that of the Airport-City and also it makes sense engineering wise. Putting more people in trains relieve the stress on the roads, saves lives, promotes sustainable living, saves lost man hours, provides a cheap alternative to other forms of transport. Also, the volume of passengers means that the project can be self sustaining even privatised (with multiple companies running trains while leasing the rail lines from the government) or commercialised. Forgive my pessimism; unless some magic happens, i see that this is going to be another failed project. Perfect assessment my brother, a project not planned to alleviate the transport misery of the masses but to chop money plenty and impress foreign visitors. Meanwhile, engines continue to snarl and tempers flare on the arterial roads! |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by listenmore: 12:14pm On Dec 02, 2011 |
they want to lend us money so that their company can have work in Nigeria and create a market for their production, thereby increasing their GNP while ours keep nose diving. |
| Re: Chinese Govt To Loan Nigeria N80B For Abuja Light Rail by 989900: 11:02pm On Dec 02, 2011 |
We really need our railways working. If possible get modern ones, but why borrow from China, when Gbenga Daniel and Alao Akala can both easily loan us this "chicken change" |
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