{"id":47632,"date":"2021-06-17T07:33:07","date_gmt":"2021-06-17T06:33:07","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=47632"},"modified":"2021-06-17T07:33:07","modified_gmt":"2021-06-17T06:33:07","slug":"nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/06\/17\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\/","title":{"rendered":"Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi"},"content":{"rendered":"<p>Minister of Transportation, Rotimi Amaechi, on Wednesday, said the Federal Government has repaid up to $150m out of the $2bn Chinese loan borrowed for rail construction.<\/p>\n<p>Amaechi stated this while answering questions on Channels Television\u2019s \u2018Politics Today\u2019 programme on Wednesday.<\/p>\n<p>The minister said the Buhari administration has only borrowed for the Kaduna-Abuja and the Lagos-Ibadan railways.<\/p>\n<p>When asked how much of the <a href=\"https:\/\/www.republicanng.com\/nigeria-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\/\" target=\"_blank\" rel=\"noopener\">Chinese loans<\/a> obtained that the Federal Government has repaid, Amaechi said, \u201cThe right ministry to respond to that question is the Ministry of Finance; they borrow and they repay but I think the last I heard about it, it was between a $100m to $150m repayment that we have done so far in the Kaduna-Abuja.<\/p>\n<p>\u201cDon\u2019t forget that we\u2019ve not borrowed any money yet, the only money we borrowed is in the Kaduna-Abuja and Lagos-Ibadan. Lagos-Ibadan, what we borrowed is about $1.5bn though it has not matured for repayment, what has matured for repayment is the Kaduna-Abuja which is being repaid.<\/p>\n<p>\u201cNigerians think we borrow so much but the only projects we have borrowed so far is the Kaduna-Abuja where we borrowed $500m and the Lagos-Ibadan where we borrowed $1.5bn. So, that brings the total loan exposure for us in the Ministry of Transport to about $2bn as far as railway is concerned.\u201d<\/p>\n<p>The minister also said the Chinese are still in charge of the rail services on the Abuja-Kaduna and Lagos-Ibadan lines. According to him, the Chinese drive the trains and will hand over to Nigerians once major areas of operations are ticked.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minister of Transportation, Rotimi Amaechi, on Wednesday, said the Federal Government has repaid up to $150m out of the $2bn Chinese loan borrowed for rail construction. Amaechi stated this while answering questions on Channels Television\u2019s \u2018Politics Today\u2019 programme on Wednesday. The minister said the Buhari administration has only borrowed for the Kaduna-Abuja and the Lagos-Ibadan [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":47639,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[887,115,11072,11073],"class_list":["post-47632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-amaechi","tag-buhari","tag-chinese-loan","tag-nigeria-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi<\/title>\n<meta name=\"description\" content=\"Minister of 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