- Federal Government said it will borrow
$6.1 billion to complete all rail projects in
the country by 2019
President Muhammadu buhariThe Minister of Transportation, Rotimi
Amaechi, disclosed this on Monday
March 27 in Abuja.
Premium Times reports that in a
statement issued by Yetunde Sonaike,
the Ministry’s Director of Public
Relations, Mr Amaechi was said to have
made this known during the Ministry’s
2017 budget proposal defence at the
National Assembly in Abuja.
NAIJ.com gathered that Mr Amaechi said
that the Federal Government had
targeted the construction of Lagos –
Ibadan, Kano – Kaduna rail projects and
the first phase of the Coastal Rail (Lagos-
Calabar) in the 2017 budget.
He said that President Muhammadu
Buhari insisted that all rail projects in
the country that had been awarded by
previous administrations must be
resuscitated and completed on or before
the December 2019.
Mr Amaechi said that rail projects
needed to be completed due to the
economic importance of these projects
and the benefits to be derived by the
generality of Nigerians.
“Our plan is to complete the rail projects
in 2019.
“Once our borrowing plan of $6.1 billion
from the Chinese EXIM Bank is approved
by the National Assembly, we will be able
to access the loan from the Chinese
Government and work will commence in
earnest.
Nigeria's railway system“The 2017 total capital budget of the
Federal Ministry of Transportation is
N243.74 billion.
“The 2016 total capital budget of the
ministry was N171. 65 billion out of
which N42 billion was released,
representing 24.5 per cent,” he said.
ccording to the minister, some vital
projects for 2016 considered ongoing
include the completion of the Mainline
and Ancillary Facilities with Electric
Power Supply, Freight Yards in Idu and
Regasa.
He said the Locomotive Workshop,
Rolling STOCK Deport and provision of
operational facilities for Abuja –
Kaduna Rail line, remobilisation and
resuscitation of the Central Rail line
Project of Itakpe – Ajaokuta – Warri has
also been captured in the 2017 budget
for construction.
“The minister said that the ministry will
ensure that efforts are directed towards
achieving a roadmap with the
implementation and development of some
key projects, such as infrastructural
development through Airport Concession.
“Establishment of National Carrier,
Establishment of Maintenance Repair
and Overhaul (MRO) facilities,
Development of Agro-Allied Cargo
Infrastructure and Establishments of
Leasing Company, Establishment of
Aerospace University with the support of
International Civil Aviation Organisation
(ICAO) through Public Private
Partnership (PPP).
“The essential focus of the ministry’s
2017 Budget is to provide effective and
efficient means of transportation for the
nation, thereby, contributing to national
development.
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