Nigeria to finance railway projects with China Exim Bank

The Nigerian government intends to borrow $ 6.1 billion from China Exim Bank to carry out several railway projects by 2019, Transport Minister Rotimi Amaechi said on Monday.

The government intends to include the construction of the Lagos-Ibadan and Kano-Kaduna lines as well as the first phase of the Lagos-Calabar coastal railway in the 2017 Finance Act, The National Assembly in Abuja.

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President Muhammadu Buhari stressed that all projects inherited from previous governments should be reactivated and completed by December 2019, Amaechi said, explaining that they should be reactivated because of their economic importance and the expected benefits to The Nigerian population.

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