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Nigeria’s Transport Minister: China Expected to Approve $5.3 Billion in New Loans

by Eric Olander

Nigeria’s Transportation Minister, Rotimi Amaechi, confirmed that China is expected to approve a new $5.3 billion loan package to build the Ibadan-Kano rail line. The minister made the comments during an interview with the Nigerian news network ChannelsTV and added that he expects the funds to be available as soon as October.

Minister Amaechi added that the Chinese have already released $1.6 billion to support the ongoing construction of the Lagos-Ibadan railway.

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