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The Minister of Transportation, Mr. Rotimi Amaechi, on Monday stated
that the Federal Government had released N72bn as its counterpart funds
for the construction of the Lagos-Ibadan standard gauge railway line.
minister said this at the Second Presidential Business Forum, which was
presided over by Vice President Yemi Osinbajo at the old Banquet Hall
of the Presidential Villa, Abuja.
He said the money was released in full so that there would be no delay in the implementation of the project.
also used the opportunity to appeal to the National Assembly to approve
the $29.9bn foreign loan request made by President Muhammadu Buhari.
said, “On the construction of Lagos-Ibadan railway line, the Minister
of Finance has been kind enough to release the counterpart funding in
full. I think in the history of Nigeria, this is the first time that we
are releasing counterpart funds in full so that there will be no delay
since the Chinese loan appears to have been approved.
thing we need to do, I thank God there is somebody from the National
Assembly here, is to plead with the National Assembly now that the funds
have been approved; then, the National Assembly should please approve
the $29.9bn loan.
“If you don’t encourage the National Assembly
to make that approval, then, the economy won’t be making the kind of
progress we want it to make. So, for me here, I will persuade the
National Assembly to kindly make that approval because it is tied to