Kano-Maradi Rail To Gulp $1.9bn – Amaechi

We Have Repaid Over N1bn Of Collected Loans For Rail Project - Amaechi

The Kano-Maradi (Niger Republic) rail project will gulp $1.9bn. The Minister of Transportation, Rotimi Amaechi made the disclosure on Sunday.

“The project is going to cost us $1.9bn and we will source it from mostly Europe,” the Minister while responding to questions during Channels Television’s Sunday Politics.

The minister noted that the country is yet to secure the funds, stressing that “we are about concluding.”

On how long it will take the country to repay the loan, the 58-year-old explained that it is not within the jurisdiction of his ministry but noted that the railway project will commence on Tuesday.

“That is the responsibility of the Ministry of Finance. When we would pay; what are the terms of agreement for the loan and all that would be the responsibility of the Ministry of Finance,” the All Progressives Congress (APC) chieftain added.

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“So, that question can be directed to the Minister for Finance. For us in Transportation, our job is to work with the Ministry of Finance to procure the loan and commence construction and we think we would commence construction on Tuesday.”

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He explained that the project will open up the country to more investment, arguing that it is for the best interest of Nigeria for the Kano-Maradi railway to be constructed.

“The interest is national; the interest is about Nigeria. The Maradi terminal is just 20 kilometres away from Nigeria; just 20 kilometres. So, there is no huge investment like Nigerians are thinking,” Amaechi said.

The Minister who also spoke about politics in the country, dismissed suggestions that he is being touted as the next president, noting that only God knows Nigeria’s next leader.

“I am still the Minister for Transportation and only God can tell who will be the President of Nigeria in 2023,” he added.

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