Minister of Information and Culture, Alhaji Lai Mohammed, has said Nigeria is not giving up on ongoing projects despite loan setback.
Daily Trust had reported how a protracted delay from China made the federal government turn to the British market for funds meant for multiple rail projects.
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Speaking when he visited the headquarters of Media Trust Limited in Abuja, on Monday, Mohammed said the projects would not suffer delay.
He revealed that the Nigerian government found the “Chinese government more willing and their terms were much more acceptable and the speed with which the loans were completed and the speed with which we started working were good.”
He further disclosed that Nigeria is not giving up but looking for other sources to fund its ongoing projects.
“What we are using now for the Kaduna-Kano rail is actually money from our own budgetary provision, but we are very confident that we will get enough funding to execute this project.”
“When your lenders are difficult, there is little you can do than to ensure you look for other sources to fund your project. We have not abandoned any particular project because of that, the one we are still working with the Portuguese company; that is the Kano-Katsina-Maradi rail, is still on course.
“Yes, we have problems with funding with the Chinese, but we have tried to look for other sources both locally and from outside to complete the projects. These projects are signature projects for the government and they will really not only improve the infrastructure ecosystem but create jobs and wealth.”