Off the wire
Children paying heaviest price as conflict in Yemen enters 3rd year, says UN  • Evidence shows Ireland facilitates European banks' tax avoidance: Oxfam  • UN-backed report highlights new challenges, opportunities of growing urbanization  • IS remains active in southern Libya's Sirte: spokesman  • Malta won't join any potential future EU army: PM  • China's service trade deficit narrows in February  • China, Micronesia to cooperate on Belt and Road  • China treasury bond futures close higher Monday  • China Hushen 300 index futures close lower Monday  • Iran earns fourth place in women U-19 soccer tournament  
You are here:   Home

Nigeria seeks Chinese funding to complete rail projects

Xinhua, March 28, 2017 Adjust font size:

The Nigerian government has concluded plans to borrow 6.1 billion U.S. dollars from Chinese Exim Bank to complete all rail projects in the country by 2019.

Minister of Transportation Rotimi Amaechi made the remarks during the Ministry's 2017 budget proposal defense at the National Assembly in Abuja, the nation's capital city on Monday.

Amaechi said the 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.

The minister told lawmakers 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 December 2019.

Amaechi said 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. Endit