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Home Business News

FG approves $3 billion Port Harcourt-Maiduguri railway and $462 million Bonny deep seaport

William UkpebyWilliam Ukpe
2 years ago
in Business News
Amaechi proposes a capital budget of N205 billion for Ministry of Transportation in 2021, FG approves $3 billion Port Harcourt-Maiduguri railway and $462 million Bonny deep seaport, Banks to hold shipowners accountable for $200m CVFF disbursement. FG sets deadline for completion of Ibadan-Kano rail project, gives reason for delay 

Rotimi Amaechi

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The Minister of Transport, Rotimi Amaechi has announced that the FG has approved rehabilitation and reconstruction of the Port Harcourt-Maiduguri Railway for the sum of $3.02 billion.

The Minister disclosed this to reporters after the 18th virtual meeting of the Federal Executive Council on Wednesday.

Nairametrics reported last week that Amaechi said the $1.9billion Kano-Niger rail would enable Nigeria to service landlocked West African nations through the movement of cargoes to Lagos and also make Nigeria compete with other coastal West African nations.

READ: FG approves N75 billion investment fund for youth-driven enterprise 

In today’s statement, he said, “The Federal Executive Council today, approved the award of contract for the rehabilitation and reconstruction of the Port Harcourt to Maiduguri Eastern Narrow Gauge Railway, with new branch lines and trans-shipment facilities. It also approved the construction of a deep seaport in Bonny under PPP and construction of a railway industrial park in Port Harcourt. The railway line will be at the cost of $3,020,279,549. The industrial park, which is under PPP, at no cost to federal government, will cost $241,154,389.31. The Bonny deep seaport will cost $461,924,369, at no cost to the federal government.”

The reconstructed rail will have new lines from Bonny to Port Harcourt and Port Harcourt to Owerri.

READ: NigComSat at risk of losing $150 million Chinese loan over dissolution of FEC 

“The Port Harcourt to Maiduguri narrow gauge railway will have new branch lines; from Port Harcourt to Bonny and from Port Harcourt to Owerri. There is another connecting to narrow gauge to standard guage at Kafanchan. There is a branch line from Gombe or before Maiduguri to Damaturu and Gashua. That’s what has been approved,’’ the Minister added.

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Tags: Bonny deep seaportPort Harcourt-Maiduguri RailwayRotimi Amaechi

Comments 3

  1. CHIGOZIE NWACHUKWU says:
    October 8, 2020 at 2:19 am

    Weldone Amaechi.

    Reply
  2. Abdullahi Shehu O says:
    October 8, 2020 at 12:50 pm

    Great

    Reply
  3. Ubimago says:
    October 9, 2020 at 3:05 am

    Yet Wike said Amechi did nothing in Rivers State as a minister, meanwhile, there is a Federal project going on under my nose (Bonny-Bodo road).

    Reply

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