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President Buhari Approves Negotiations For $15bn Loan For Port Harcourt – Maiduguri Rail

Farouk Mohammed
By Farouk Mohammed
Published: March 20, 2018
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President Muhammadu Buhari has approved negotiations for the $15 billion loan for completion of the Port Harcourt – Maiduguri rail project.

Minister of Transportation Rotimi Amaechi revealed this on Tuesday in Abuja after a meeting with Buhari.

Amaechi noted that the president also approved 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,” the minister added.

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“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 dollars.’’

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TAGGED:buhariPort Harcourt – Maiduguri Rail
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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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