China to fund $ 5.3bn construction of Ibadan-Kano railway

CHINA is expected to approve a sum of $ 5.3bn by October this year for the commencement of the construction of the Ibadan-Kano rail line, which is a part of the 2,700-km Lagos–Kano standard gauge railway line project in Nigeria.

This was revealed by Nigeria’s Transportation Minister Rotimi Amaechi during a special programme on Channels Television to mark the country’s Democracy Day. Amaechi commended the support that China continue giving to Nigeria especially in matters infrastructure.

Counterpart funding for the Ibadan-Kano rail line

The minister added that President Buhari had directed the release of $318 million as part of the 15 percent counterpart funding for the project and that more funds would be released soon.

He also disclosed that the government had been able to pay compensation at commercial rates and not government rates to people and organisations that were affected by the Lagos-Ibadan railway project.

The construction of the Lagos-Ibadan rail line segment was projected to end in May this year to allow the Ibadan to Kno section to begin by June or July but the plan was interfered with by the rise of the Covid-19 virus early this year.

On the other hand, the minister also talked about plans for the Bonny-Port Harcourt-Maiduguri rail line, saying that they intend to seek approval from the cabinet before the end of July for its implementation together with the Bonny deep seaport and the industrial park at Port Harcourt.


Related Articles

Leave a Reply

Your email address will not be published.

Back to top button