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Saturday, 20 May 2017

Senate Invites Transport Minister Over Loan For Railway Projects

Nigeria, Africa, AfricaThe Senate has invited the Minister of Transport, Honourable Chibuike Amaechi to explain the reason for the exclusion of the eastern part of the country in the proposed China Exim Bank loan for rail development in the country.
The invitation is coming after a federal lawmaker, Senator Enyinaya Abaribe complained that the loan which is for railway development does not cover the eastern part of the country.
Meanwhile, the chairman of the Senate Committee on Land Transport, Senator Gbenga Ashafa faulted the information presented by Senator Abaribe.
On April 26, the Federal Government presented a formal request to the National Assembly to approve a loan of 5.8 billion dollars from China Exim Bank to modernize rail lines in some parts of the country.
The areas listed for the modernization included Lagos – Kano, Kano – Kaduna, Lagos – Ibadan and Lagos – Calabar rail segments.
The Minister of Finance, Kemi Adeosun, gave some clarification on the loan for the railway project.

Source : Channels

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