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…insists China loans are not tied to National assets
…PH-Maiduguri rail project to commence in June
…says by 2026 Nigeria will start manufacturing locomotives
…Abuja-Kaduna IGR has increased from N70m to N350m
By Emman Ovuakporie
The Minister of Transportation, Hon Rotimi Amaechi has said the Ibadan Kano rail line project will be completed a few months after 2023.
TheNewsGuru.com, (TNG) reports Amaechi in a monitored TV program where he made this revelation.
According to Amaechi, only Ibadan, Kano rail project is still awaiting approval while Portharcourt-Maiduguri rail line project will commence this month same thing applies to Kano to Maradi.
He explained that” the Ibadan-Kano rail line will be funded by the budget and expected Chinese facility and hopefully it will be completed a few months after 2023.
“The rail line will go through Ibadan- Osogbo-Ilorin-Minna- Abuja and we already have Abuja-Kaduna on ground.
He further explained that for now we are already assembling coaches and other parts of locomotives based on a 15percent and 85percent content sourcing arrangements with the Chinese.
“Hopefully, in the next five years we will start manufacturing locomotives and we have started sending our children to China to learn more on rail transportation technology, once the technology transfer is completed we can start manufacturing locomotives.
On China loans repayment and likely hijack of national assets considering what happened in Zambia, Amaechi said:
“I am not aware of any signed agreement that will lead to the forefeiture of our national assets at anytime and I don’t think it will get to that stage because we are paying, so far we have paid $150m out of the $500m initially sourced by the Jonathan administration.
“We are not defaulting in payment so there’s no way we can lose national assets,” he added.
On Internally Generated Revenue, (IGR) the former Rivers Governor said” the revenue has increased from initial N70m monthly to N350m.