The Minister of Transportation, Mu’azu Jaji Sambo, has said that the Federal government is looking at securing multi-billion dollar loans from financial institutions in China, Portugal and Turkey to fund the completion of the ongoing rail projects across the country.
Sambo stated this when he appeared before the joint National Assembly Committee on Land and Marine Transport, chaired by Senator Danjuma Goje. He explained that the ministry was committed to the implementation of the Nigeria Railway Modernisation project.
According to him, the railway network was being progressively expanded through yearly budgetary appropriations since the federal government was facing challenges in securing counterpart funding through loans.
He also said the Lagos – Ibadan segment of the Lagos – Kano and Itakpe to Warri railway projects were fully operational and receiving patronage from the general public.
To reach practical completion on the projects, the minister said some aspects of works, including construction of overpass bridges, connection to the national grid and other ancillary provisions had to be completed.
The minister lamented the sad occurrence on the Abuja – Kaduna Rail incident earlier in the year and said plans were ongoing to resume service there.
He explained that necessary security gadgets would be installed to monitor the line and forestall a reoccurrence.
