$1.9Bn funding for Kano-Niger Republic rail to be sourced from Europe – Amaechi

 

By Deborah Hassan

 

Minister of Transportation, Rotimi Amaechi, has disclosed that it is yet to get funding for the  Federal Government’s $1.9 billion Kano-Maradi railway project whose ground-breaking ceremony is scheduled for tomorrow, February 9, 2021.

He, however, added that funding for the rail project, which will start at Kano and terminate at Maradi, Niger Republic, is expected to be sourced as a loan from Europe.

Amaechi, made the disclosure when he appeared on Channels Television’s Sunday Politics, on February 7, 2021.

He said, “The project is going to cost us $1.9bn and we will source it from mostly Europe.”

Speaking on the payment plan for the loan, he stated: “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.

“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.”

Amaechi assured that the rail link to Niger Republic was proposed in national interest, saying, “The Maradi terminal is just 20 kilometres away from Nigeria; just 20 kilometres. So, there is no huge investment like Nigerians are thinking.”

While stressing the economic benefit to Nigerians, the Minister said a situation where the Lagos-Kano commercial corridor transports 30,000,000 tonnes of cargo annually – out of which 200,000 only goes by rail and the rest by road – is preposterous.

 
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