FG yet to secure 85% foreign railway loan

FG yet to secure 85% foreign railway loan

The Ministry of Transportation said it was yet to secure 85 per cent of the foreign loan component for Kaduna/Kano and Port-Harcourt/Maiduguri rail service projects.

The Minister of Transportation Mu’azu Sambo disclosed this in a chat with journalists in Abuja on Monday.

The minister said the ministry had been driving the projects solely through appropriation, which was part of the 15 per cent that Nigeria was supposed to contribute.

He, however, said with respect to the Kaduna/Kano rail, contactors had been completely paid the 15 per cent obligation of the Federal Government but until the 85 per cent commitment the project was provided, the project would be funded through appropriation.

“We have been driving these two projects solely through appropriation, which is the 15 per cent that Nigeria is supposed to contribute.”

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