Muhammadu Buhari has approved that negotiation should be carried out for $15 billion loan for the completion of work on the Port Harcourt – Maiduguri rail project.

The Minister of Transportation, Rotimi Ameachi, made this known when he briefed State House correspondents after a closed door meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, on Tuesday.

According to him, the president has also given the approval for negotiations of funds for the execution of Lagos –Calabar rail project to ensure its speedy completion.

“Don’t forget that the Lagos-Calabar project is yet to start because of funds; the Port Harcourt – Maiduguri is yet to start because of funds, but the President has approved that we negotiate for funds.

“We are almost concluding negotiations for the Port Harcourt – Maiduguri. We are looking at the cost – is in the neighbourhood of between 14 billion and 15 billion dollars.’’

According to the minister, a lot of progress is being made in the area of revamping rail transportation network across the country.

He disclosed that laying of tracks on the Lagos-Ibadan route would commence next month, and expressed the hope that the project would provide a lot of job opportunities to Nigerians.

“If the rain doesn’t start early we will start laying tracks on the Lagos-Ibadan route in April and hopefully we believe we can complete it in December or January and open it up for passengers and business and we expect about 6, 000,000 tons of cargo out of the 30,000,000 tons of cargo that we have between Lagos and Kano.

“In terms of job creation, you can be rest assured that it will be in thousands,” he said.

On Itakpe – Warri rail project, Mr. Ameachi said the project was being reconstructed and expressed the hope that it would be inaugurated by August.

He said: “The tracks were already there but they were vandalised so we are rebuilding those tracks and then building new stations.

“We are also reconstructing a yard that was abandoned.

“All things being equal, the place should be ready soon, we gave them May as completion period but let’s say by August we should be commissioning.’’

The minister reassured that adequate security had been taken to guarantee safety of passengers aboard rail transportation in the country.

“There are policemen in all the coaches that ply our routes. So if the passengers are attacked by armed robbers, they will report while they take action,” he said.

(NAN)

Source: https://www.premiumtimesng.com/news/more-news/262461-buhari-approves-negotiations-for-15-billion-loans-to-finance-rail-projects.html

Take out the northern part
Boko haram will blow it up in no time

Ameachi, what did Buhari actually approved? Say the truth.... Lai has been missing in action ooo

The "biasness" of this government really worrisome.It left the more lucrative southern routes for the the ones up north even go into Niger Republic.
Lagos-Ibadan,Lagos-Warri-PH, Warri-Itakpe all still lying fallow.
Meanwhile who is gonna pay all these debts for God's sake?

Paperwhite:
The "biasness" of this government really worrisome.It left the more lucrative southern routes for the the ones up north even go into Niger Republic.
Lagos-Ibadan,Lagos-Warri-PH, Warri-Itakpe all still lying fallow.
Meanwhile who is gonna pay all these debts for God's sake?

just imagine!!!! loan again...

Get Nigeria a good deal.... If you've ever used the train before, then you'll pray these projects are concluded.

What future lies ahead for my unborn children?

Paperwhite:
The "biasness" of this government really worrisome.It left the more lucrative southern routes for the the ones up north even go into Niger Republic.
Lagos-Ibadan,Lagos-Warri-PH, Warri-Itakpe all still lying fallow.
Meanwhile who is gonna pay all these debts for God's sake?

The only rail being worked on right now is the Lagos to Ibadan rail. How did you generate your info?

Let's hope he makes he's deadline this time around for the Lagos - Ibadan and Atekpe Warri. The others rail lines like lagos - Calabar and Port Harcourt - Maiduguri on drawing board till they get the funds.

“If the rain doesn’t start early we will start laying tracks on the Lagos-Ibadan route in April and hopefully we believe we can complete it in December or January and open it up for passengers and business

On Itakpe – Warri rail project, Mr. Ameachi said the project was being reconstructed and expressed the hope that it would be inaugurated by August.

The Dullard putting Nigeria in debt bondage just so he can finance a rail to his real village in Niger republic

I don't trust any word out of amaechi's mouth. If it took you 3 and half years to decide to negotiate loan... definitely it's gonna take you a decade to prosecute the project.

In 200yrs to come,our childrens children will continue to repay dis loans.I will b in heaven by den sha

FarahAideed:
The Dullard putting Nigeria in debt bondage just so he can finance a rail to his real village in Niger republic

SalamRushdie, why not go look for something doing, instead of staying online 24hrs, ranting and cursing an imaginary enemy?

This is the 4th Moniker, you are using within three months, just to look for Useless "Likes" from the inconsequential ipob miscreants...

How can you spend 15billion dollars on rail alone. Is that not madness?

For a country that has so many competing needs.

The entire rail network in Qatar is not up to 15billion dollars.


This guy is terrible.

lalasticlala this should be on the front-page..

mean while nairaland babalawos has been busted as a fake and scammer. check my last topic

noted

How many billions did he pay bokoharam to release Dapchi girls?

I was arguing with someone yesterday that this 'rail project' shouldn't be a priority for Nigeria at this point in time......

Weldone

How can U b looking for money to COMPLETE a project U haven't STARTED YET??
Apart from d Itakpe project NONE of dem have starded yet so what are u COMPLETING?
Dis govt funny I swear

They will all share the money among themselves

Get loans, build infrastructures, no problem; good economic policy.

Get loans, pay salaries, big problems; bad economic policy.

Loan has never been a bad thing, what you do with the loan is what matter. That this loan is for developing our rail system, that's a welcome policy. No proper development without a wide reaching and sustainable rail system.

Kudos.

How much did he approve for Negotiation for the release of Dapchi girls ?

Crocky23:
How many billions did he pay bokoharam to release Dapchi girls?

And who said it was real?

Buhari putting Nigeria into trouble since his birth.


Anybody who still support this dullard is completely mad!

NASS should act fast, they should do everything possible to make sure that its impossible to get this loan!

Innocent Nigerian will pay the price when it's time!


Thunder scatter Muhammad Buhari mah sha Allah

If buhari should go out of power EFCC will pressure him so hard. All these billions and billions yet no show

"If the rains do not start early?" In April Una get work so? Besides, all those recovered funds from last year should have been included in this year's budget na. Isn't that the reason why you said they couldn't be used last year? You wantu nau gaan be borrowing more money? Kuku sell Nigeria for us abeg



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