The Minister of Transportation, Rotimi Amaechi has said that the Kano-Maradi (Niger Republic) rail project will cost the federal government $1.9bn.
The Minister said, “The project is going to cost us $1.9bn and we will source it from mostly Europe”, on a television programme yesterday.
Amaechi, who is a former Governor of Rivers State, noted, however, that the country has not secured the money, stressing that “we are about concluding”.
On how long it will take the country to repay the loan, the minister explained that it is not within the jurisdiction of his ministry but noted that the railway project will commence tomorrow, Tuesday.
He explained that the project will open up the country to more investment, arguing that it is for the best interest of Nigeria to the Kano-Maradi railway to be constructed.
Amaechi, who also spoke about politics in the country, dismissed suggestions that he is being touted as the next president, noting that only God knows Nigeria’s next leader.
“I am still the Minister for Transportation and only God can tell who will be the President of Nigeria in 2023,” he added.