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China to approve $5.3bn for Nigeria’s Railway Construction – Amaechi



Amid growing Concerns by Nigerians on the rapid increase of Nigeria’s foreign debts , Minister of Transportation, Mr Rotimi Amaechi, says China to approve another $5.3bn for Nigeria.

He stated this on Friday during a special broadcast which aired on Channels Television to mark the nation’s Democracy Day.

The Minister noted that the People Republic of China and the Chinese people have been very helpful to the Federal Government following the disbursement of cash to fun infrastructure, especially railway.

According to Amaechi, China has released $1.6billion for the Lagos-Ibadan railway and is expected to approve $5.3billion by October.

“The Chinese government and the Chinese people have been very helpful to Nigeria. They have released $1.6billion for the Lagos-Ibadan.

“They have agreed to approve (and) we hope that by October, they should be able to approve the $5.3billion for the Federal Government of Nigeria so that we can commence and complete the construction of the Ibadan-Kano railway,” he said.