FG needs $43 billion for railways


By ‘Deji Rahman

Nigeria requires $43 billion to provide full scale railway infrastructure for the country.
The minister of Transportation, Mr Rotimi Amaechi, disclosed this Tuesday during the Open Day program organized by the Federal Ministry of Budget and Planning to herald the closing of the Economic Recovery Growth Plan (ERGP) Focus Labs in Abuja.
He however said the ministry would construct only some few ones as the funds available are not sufficient to meet the railway infrastructure needs of the country.
He noted that the ministry is already partnering General Electric which would source $2.7 billion to provide seaports in some locations.
The minister called on private investors with bankable ideas in the transportation sector to come forward, noting that his agency was willing to collaborate with people with credible ideas to move the sector forward.