We need $40bn to finish Nigeria's rail project - Amaechi

We need $40bn to finish Nigeria's rail project - Amaechi

- The minister of transportation, Rotimi Amaechi, has revealed that the country needs about $40 billion to complete its rail way project

- Amaechi also said that only money could solve the situation the country is facing

- The minister, however, said that the project will not stop even if there is any ministerial change

Nigeria may not be getting the much expected interconnect rail as soon as they hoped as the cost of finishing the project has been put at an estimate of $40 billion.

The minister of transportation, Rotimi Amaechi, disclosed this while on an inspection visit to the Lagos-Ibadan rail project on Friday, March 29, vanguard reports.

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Amaechi, however, gave the assurance that the project would go on despite any ministerial change.

He said: “The ongoing project cannot stop. The directive of the President, Mohammadu Buhari, is to link Nigeria with rail. Like I tell Nigerians we need a little patience because we need up to $36 to $40bn to complete the interconnectivity of Nigeria.

“When we had that kind of money what did we do with it? Those criticising the President should have asked that question. I guess they didn’t know that there was a time when we had the money and we enjoyed it through corruption.“

The minister also stressed the need for money in the completion of the project, that only funds could resolve the challenges the project is facing.

He said: “It is very difficult to meet the challenges we are facing and these challenges can only be resolved by funds.”

Amaechi, however, added that the project would continue because the Chinese bank, China Nexim Bank, has not stopped giving out funding.

In his words: “Also, It is very clear that the project cannot be stopped because funding comes from China Nexim Bank, and we have finished paying our own counterpart money so why would it be abandoned?

“The good thing about all of this is that we have won the election and the same government is trying to finish the project. Even if you change the minister it is still the same government.”

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Recall that Legit.ng earlier reported that Amaechi received Joe Ghartey, his Ghanaian counterpart in charge of railways development, who is on a visit to Nigeria to inspect the federal government's construction works.

Amaechi, the former Rivers state governor, was expected to also take Legit.ng correspondent alongside other journalists across the railway construction sites in Lagos to show the level of progress made by the transport ministry.

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Source: Legit

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