We need N14.4trn to finish Nigeria’s rail project – Amaechi

Transportation minister, Rotimi Amaechi, has revealed that the country needs roughly 40 billion dollars to complete its rail way project.

Speaking during an inspection visit to the Lagos-Ibadan rail project on Friday, March 29, Amaechi stated that despite the capital investment needed to complete the the interconnectivity project, the Buhari led administration will not relent on completing it.

In his words,

“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 revealed that the reason the project will keep on going is because it is been funded by the Chinese bank, China Nexim Bank and that the Federal government has finished paying its own counterpart money.

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.” – Amaechi said.