• June 18, 2021

Amechi: FG Has Borrowed $2.5bn From China’s Exim Bank For The Construction Of Lagos-Ibadan Rail

By Nkoli Opara (AENDAWATCHOG) – The Minister of Transportation, Rotimi Amaechi, has disclosed that approximately $2.5billion has been borrowed by the federal government for the construction of Lagos-Ibadan Rail.

The minister made this known on Channels Television’s Newsnight on Monday night.

According to Amechi, who was also a one-time Governor of Rivers State, the federal government’s decision to extend the rail line to the nation’s seaports was due to its potential economic benefits.

READ ALSO: Rotimi Amechi Says President Buhari Revived Nigeria’s Decayed Infrastructure In Five Years

“If you look at the whole total cost, it will be $2.5 to $2.6 billion that we have borrowed from China Exim bank,” he said

Agenda Watchdog

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