President Muhammadu Buhari has approved negotiations for the $15 billion loan for completion of the Port Harcourt – Maiduguri rail project.
Minister of Transportation Rotimi Amaechi revealed this on Tuesday in Abuja after a meeting with Buhari.
Amaechi noted that the president also approved negotiations of funds for the execution of Lagos – Calabar rail project to ensure its speedy completion.
“Don’t forget that the Lagos-Calabar project is yet to start because of funds; the Port Harcourt – Maiduguri is yet to start because of funds, but the President has approved that we negotiate for funds,” the minister added.
“We are almost concluding negotiations for the Port Harcourt – Maiduguri. We are looking at the cost – is in the neighbourhood of between 14 billion and 15 billion dollars.’’
