Politics

Buhari Approves $15bn Loan For Completion Of Port Harcourt-Maiduguri Rail Project

President Muhammadu Buhari has approved that negotiation should be carried out for $15 billion loan for the completion of work on the Port HarcourtMaiduguri rail project.

 

 

The Minister of Transportation, Mr Rotimi Ameachi, made this known when he briefed State House correspondents after a closed door meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, on Tuesday.

 

 

According to him, the president has also given the approval for negotiations of funds for the execution of Lagos – Calabar rail project to ensure its speedy completion.

 

 

“Don’t forget that the Lagos-Calabar project is yet to start because of funds; the Port Harcourt – Maiduguri is yet to start because of funds, but the President has approved that we negotiate for funds.

 

 

“We are almost concluding negotiations for the Port Harcourt – Maiduguri. We are looking at the cost – is in the neighbourhood of between $14 billion and $15 billion,’’ he said.

 

 

According to the minister, a lot of progress is being made in the area of revamping rail transportation network across the country.

 

 

He disclosed that laying of tracks on the Lagos-Ibadan route would commence next month, and expressed the hope that the project would provide a lot of job opportunities to Nigerians.

 

 

“If the rain doesn’t start early we will start laying tracks on the Lagos-Ibadan route in April and hopefully we believe we can complete it in December or January and open it up for passengers and business and we expect about 6, 000,000 tons of cargo out of the 30,000,000 tons of cargo that we have between Lagos and Kano,” he stated further.

 

 

“In terms of job creation, you can be rest assured that it will be in thousands,” he said.

 

 

On Itakpe – Warri rail project, Ameachi said the project was being reconstructed and expressed the hope that it would be inaugurated by August.

 

 

He said: “The tracks were already there but they were vandalised so we are rebuilding those tracks and then building new stations.

 

 

“We are also reconstructing a yard that was abandoned. All things being equal, the place should be ready soon, we gave them May as completion period but let’s say by August we should be commissioning.’’

 

 

The Minister reassured that adequate security had been taken to guarantee safety of passengers aboard rail transportation in the country.

 

Read Also: We will enter the hiding places to recover the weapons after 21 days ultimatum -spokesperson of the Rivers Police

 

“There are policemen in all the coaches that ply our routes. So if the passengers are attacked by armed robbers, they will report while they take action,” he said.

 

0 0 votes
Article Rating
towncrierng

Recent Posts

RIVERS PDP TURNS WIKE LOYALISTS TO SECURITY GUARDS, PLANS DISCIPLINARY COMMITTEE

By Memoye Oghu The acting chairman of the Peoples Democratic Party (PDP) in Rivers state,…

2 months ago

Fake News! No presidential order to reinstate Obasa

  Claims that President Bola Tinubu has ordered the reinstatement of former Lagos State House…

2 months ago

Comptroller Babandede Charges Newly Promoted Officers On Greater Service and Competence

  The Customs Controller, Area 2 Command, Onne, Comptroller Muhammad Babandede has charged newly promoted…

2 months ago

Activist slams Obasa: Warns against provoking Lagos unrest

    Dr. Wale Ajewunmi, a prominent civil and political rights activist, has urged former…

2 months ago

Lagos Assembly fires back: Obasa’s impeachment stands

  The Lagos State House of Assembly has firmly responded to former Speaker Mudashiru Obasa’s…

2 months ago

Rivers: Supreme Court Fixes February 10 To Hear Five Cases

  The Supreme Court, today, fixed February 10, 2025, for the hearing of five separate…

2 months ago