China No Longer Responding, We’re Pursuing Loans In Europe – Presidency Cries Out For Help
Presidency says China No Longer Responding, We’re Pursuing Loans In Europe
The Minister of Transportation, Rotimi Amaechi, has blamed the delay in the execution of major projects in the country including railways, on the inability of China to fund them.
The minister who lamented the delays said the Federal Government has started looking towards Europe to get loans, following the refusal of the Chinese to fund Nigerian projects.
He expressed hope that if Nigeria could get loans from Europe, the existing projects will be completed.
According to Amaechi, “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 compare it with the one we have borrowed, the kind of comments by Nigerians will put you off.”
Amaechi said the Abuja-Itakpe railway is underway, which will link the existing Itakpe-Delta rail line.
He said the link rail would have been completed but for a misunderstanding with the Chinese contractor.
