The Minister of Transportation, Rotimi Amaechi, says he needs
just $36bn to connect the entire nation by rail.
Amaechi said this on NTA’s ‘Good Morning Nigeria’ programme on Friday.
The minister explained that railway is capital intensive and
this has made it difficult for private firms to invest in the sector.
He said the reason the Nigerian government has been
borrowing funds from overseas is because only the government is able to come up
with the needed collateral to take such loans.
When asked why the Kaduna-Abuja railway had not been linked
to Lokoja, Amaechi responded, “If we had money, I would want to be the minister
that initiated and completed the linking of Nigeria. All I need is $36bn. With
$36bn, all of them (will be linked).
“The project from Itakpe to Abuja is $3.09bn. If we have
that, we will start it tomorrow morning.”
The former governor of Rivers State said the President,
Major General Muhammadu Buhari (retd.), had done exceedingly well in the area
of infrastructure but said he feared that the gains of the Buhari regime would
be reversed if the Peoples Democratic Party takes over in 2023.
Amaechi said Buhari was a unique President for the fact that
he did not cancel former President Goodluck Jonathan’s projects but decided to
continue them for the benefit of Nigerians.
As of March 31, 2020, Nigeria had borrowed $3.12bn from
China. The concessional loans are tied to several rail projects. The projects
include the Nigerian Railway Modernisation Project (Idu-Kaduna section); Abuja
Light Rail Project; Four Airport Terminals Expansion Project (Abuja, Kano,
Lagos and Port Harcourt); Nigerian Railway Modernisation Project (Lagos-Ibadan
section) and Rehabilitation and Upgrading of Abuja – Keffi- Makurdi Road
Project.
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