NATIONAL: FG awaits $5.3bn Chinese loan for Ibadan-Kano rail line — Amaechi

THE construction of the Ibadan-Kano rail project will start in earnest as soon as the Chinese government approves the sum of $5.3bn loan application from Nigeria, according to the Minister of Transportation, Rotimi Amaechi.

Featuring on Nigeria Television Authority, NTA’s programme, ‘Weekend Deal’, monitored by Naija Times, the minister stated, “We are waiting for the Chinese government and bank to approve the $5.3bn to construct the Ibadan-Kano. What was approved a year ago was the contract.”

Said Amaechi, “The moment I announced that the federal government had awarded a contract of $5.3bn to the China Civil Engineering Construction Corporation, CCECC to construct Ibadan-Kano; they assumed the money had come in. No!

“Up till now, we have not gotten the money a year after we have applied for the loan; we have almost finished the one of Lagos-Ibadan. If we don’t get the loan now, we can’t commence,” he added.

Speaking on the significance of the Ibadan-Kano rail, Amaechi said it woul link the Kaduna-Kano-Abuja-Minna-Ilorin-Oshogbo-Ibadan where cargoes could be moved to Kano from Lagos.

While reacting to the issue of wet cargoes on the road which often cause vehicular accidents, the minister said, “Nigeria should be more patient with the Ministry of Transportation over the issue of wet cargoes. Currently, we are trying to construct the railway into the seaports to enable us to transport either wet or dry cargoes to various destinations. The only wet cargoes that can go now is between Lagos to Ibadan.

“The moment we conclude that we will be able to move wet cargoes all the way to Kano from Lagos. We should also commence the construction of Port Harcourt to Maiduguri and be able to move cargoes from Bonny to Maiduguri,” he said.

On the funding of various rail projects across the country, Amaechi said the Ministry of Finance is in charge of funding and not the Ministry of Transportation, adding however, that his ministry has a Presidential seal of approval to seek loans to fund rail projects for the benefit of Nigeria and Nigerians.