The federal government on Wednesday said that the promise to complete the narrow gauge Eastern railway corridor before the end of the President Muhammadu Buhari administration is no longer feasible.
The Minister of Transportation, Mu’azu Jaji Sambo, stated this while fielding questions at the end of the Federal Executive Council (FEC) at the Presidential Villa, Abuja.
Recall that President Buhari had two years ago performed the groundbreaking of the $1.96 billion rail-line project, saying that it would stimulate economic activities in the 14 states it covers.
Then Minister of Transport, Rotimi Amaechi, had said that the Port Harcourt-Maiduguri line would be delivered before the end of the tenure of the present administration.
But speaking on it during the post-FEC briefing, Sambo said financing the project has become an issue.
He said the federal government has not been able to obtain the foreign counterpart funding embedded in the project, making it impossible to fund it as envisaged.
More details later…
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
PICTORIAL EXPLAINER: How To Identify Fake New Naira Notes
The Central Bank of Nigeria (CBN) has released security features to help identify fake new naira notes. According to CBN’s template, the Security features to look out for are the following…
Ondo Councils’ Workers Shut Down Assembly Over LG Autonomy
LOCAL government workers under the aegis of Nigeria Union of Local Government Employees (NULGE), Ondo, on Tuesday, stormed the State House of Assembly, threatening a showdown with the lawmakers over the signing of local government autonomy…
FG To Discontinue Cash Withdrawal From Public Accounts
THE Federal Government is putting final touches to all necessary mea- sures to stop cash withdrawal from federal, state and local government accounts. The Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Modibbo Hamman Tukur, revealed…
Reps Probe Crude Oil Sales Over $2.4bn Revenue Loss
The House of Representatives on Tuesday unveiled plans to investigate the allegation bothering on the alleged loss of over $2.4 billion in revenue accruing from the illegal sale of 48 million barrels of crude oil export from 2014 till date…
Emefiele/DSS Tango: Falana Asks Judiciary To Treat Civil Liberty Cases Equally
