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Nigeria to go into $30billion loan again

Features & Reports

The Minister of Transportation, Rotimi Amaechi, has pleaded with members of the National Assembly to approve the $30 billion loan request of President Mohammadu Buhari, saying it is crucial to the economic prosperity of Nigeria.

Amaechi, stated this on Wednesday at the 2017 budget defence before the Senate Committee on Land Transportation in Abuja. He said that out of the N153.5 billion capital appropriation for the transportation ministry in the 2016 budget, only N31.4 billion representing about 20% of the entire figure was released.

“We have the counterpart funds for Calabar-Port Harcourt, Kano-Kaduna but don’t forget that we are borrowing the money from China Exim Bank.

The Scoop