The Nigerian government has said that it will source more loans from China and Portugal, for use in the completion of the ongoing railway project linking Kaduna-Kano, Port Harcourt to Maiduguri and Kano-Maradi.
The Minister of Transport, Muazu Sambo, disclosed this at the 2023 budget defence of his Ministry on Thursday in Abuja.
He said that the completion of the rail projects rests on the successful negotiation of loans for infrastructural development from China, Portuguese and Turkish institutions with the Finance Minister.
According to the Minister, to finalise and sign the loan agreements, evidence of source of funding of the balance of the advance payment and other aspects of work to be financed directly by the Federal government has to be made available to the financial institutions through adequate budget budgetary provisions in the 2023 budget.
He noted that the Lagos-Ibadan segment of the Lagos-Kano and Itakpa to Warri railway projects are fully operational and receiving patronage from the general public.