Nigeria To Secure 85% Foreign Railway Loan

The Kaduna/Kano and Port-Harcourt/Maiduguri rail service projects still requires approval for 85% of the foreign loan component, according to the Ministry of Transportation.

This was revealed by the transportation minister, Mu’azu Sambo, during a Monday press conference in Abuja.

The minister said that, of the 15% that Nigeria was expected to pay, the ministry had been funding the projects purely via appropriations.

Nevertheless, he stated that the 15% obligation of the Federal Government for the Kaduna/Kano rail had been fully paid to the contractors and that the project would be supported through allocation until the remaining 85% was supplied.

“We have been driving these two projects solely through appropriation, which is the 15 per cent that Nigeria is supposed to contribute.”

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