$6.7bn Approved For Construction Of Ibadan– Kaduna Railway Project
Nigerians have continued to read huge figures of money on the internet and on papers as regards contracts being awarded and approved.
The latest was a whooping N945 billion ($6.7bn) approved by the Federal Executive Council on Wednesday for the construction of the Ibadan– Kaduna standard gauge railway project.
That same contract had been award since 2006 during former president Olusegun Obasanjo's tenure.
But a FEC meeting presided over by president Muhammadu Buhari yet again gave a nod to the project with the approval of almost one trillion naira.
Addressing State House correspondents on the outcome of the meeting of the Federal Executive Council (FEC), held at State House Council Chamber Abuja, the Minister of Transportation, Rotimi Amaechi said the China EXIM bank had agreed to finance the Ibadan –Kano railway project.
“The Council approved the award of a new contract from Ibadan to Kaduna. You know earlier the council had awarded from Kaduna to Kano.
“So, the entire Ibadan to Kano as a stretch has been awarded. What was awarded today was Ibadan to Kaduna at the cost of 6.7billion dollars. This is an old contract that was awarded in 2006.
“The only different now is that we had to award the spur that is going to Ado-Ekiti. There is a new contract from Oshogbo to Ado-Ekiti that has brought the entire contract to 6.7 billion dollars from Ibadan to Kaduna and it was awarded to a Chinese company,’’ he said.
It would be recalled that the Federal Government had approved 1.2 billion dollars for the construction of the Kano-Kaduna standard gauge railway project.
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