Senate okays government's $1.8bn for railway projects

The senate has approved the $1.8bn federal government 2016-2018 external borrowing (rolling) plan for Lagos-Kano railway modernisation project and reconstruction/rehabilitation of the North-East.

By Henry Umoru

29 Jul 2017

Photo by Ankush Minda via Unsplash

It also approved the $750m medium term external loan requests for six states, out of the Federal Government 's request of $1.49bn for 10 states.

The breakdown of the utilisation of the $575m World Bank loan includes $125m for polio eradication support and routine immunisation project, $75m for community and social development project, and $125m for Nigeria States Health Programme Investment project.

Others are $100m for State Education Programme Investment project, $100m for Nigeria Youth Employment and Social Support Project and $50m for Fadama III project.

Further breakdown of the approved loans are $70m from African Development Bank (ADB) for Ebonyi Ring Road Project (to be co-financed by Islamic Development Bank), $200m ADB facility for Rural Access and Mobility Project (RAMP) in Abia State, and $200m IDB loan for Kano State Integrated Agricultural and Water Resources Development.

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Source: allAfrica

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