The Minister of Transportation, Rotimi Amaechi has said that the delay being experienced in the completion of some major projects that include the train projects by the Federal Government is due to lack of funding.
Amaechi says delay in train projects is due to funding
The minister announced that the completion of the projects is hindered by China’s suspended funding.
The minister made this known during an interview with the Guardian last week.
The minister explained that the projects that were being carried out with the aid of Chinese funding are no longer ongoing as the Chinese have stopped funding the projects.
The completion of those projects have had to be suspended as the funding that is required to complete them are not yet available, forcing them to shop for loans from Europe in order to complete the outstanding projects.
“We are stuck with lots of our projects because we cannot get money. The Chinese are no longer funding. So, we are now pursuing money in Europe. And when I look at the money they are borrowing in other countries and I compare with the one we have borrowed, the kind of comments by Nigerians will put you off,” he said.
The minister believes that the completion of those projects will aid the economic development of the country which is why the government is determined to secure the loans that will aid their completion.
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