FG Needs $40bn To Finance Ongoing Rail Projects, Says Amaechi

The Minister of Transportation, Rotimi Amaechi, has disclosed that the Federal Government would require $40 billion to finance the ongoing rail projects in the country.

The minister dropped the hints on the sidelines of the commissioning of 10 railway coaches and two locomotives at Rigasa Station, Kaduna State.

He said: “We need between $36 billion and $40 billion. Only God knows where we are going to get it. But I may apply what I did as Rivers State governor. When there is a project, we put on the table how much we have. We will just award the contract, believing that God will do it for us.

“You will say that it is naive but at the end of the day we got money to pay the contractors. Government will also focus on Kano-Kazure, Daura, Katsina, Jibya and link Maradi in Niger Republic, as part of regional railway inter-connectivity of the ECOWAS sub-region.”