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New Nigerian Chinese-Built Railways Generating Enough Revenue to Pay Off the Loans, Says Transport Minister

The Chinese-financed and built Lagos to Ibadan standard gauge railway in Nigeria.

Nigeria’s new Chinese-financed Standard Gauge Railways are already generating enough revenue to repay the loans needed to build them, said Transportation Minister Rotimi Amaechi.

Passenger usage of the Lagos to Ibadan line has been quite strong since the railway launched in June, which now makes it possible for the railway to repay the China Exim Bank the $1.5 billion it borrowed.

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