Minister of Transportation, Rotimi Amaechi, has noted that the Kano-Maradi (Niger Republic) rail project will cost the Nigerian government $1.9bn.
The former Governor of Rivers State stated this during an interview on Channels TV’s Sunday Politics.
“The project is going to cost us $1.9bn and we will source it from mostly Europe,” Amaechi said.
“We are about concluding it.”
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The minister while speaking on how long it will take Nigeria to repay the loan, noted 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.”
“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.”
According to him, the project was initiated based on national interest, stressing that it would open up the country for more investment.
“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,” the minister said.