Nigeria didnt Find Funds for Rail Upgrade

Nigeria didnt Find Funds for Rail Upgrade
November 5, 2007 8:01 pm
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Nigeria’s 25-year rail plan has been put on hold due to a lack of funds, local media reports say.

Last year the government awarded contracts worth US$17.3bn to complete the first two phases of the plan – a 1,325km standard gauge rail line from Lagos to Kano and a second line from Port Harcourt to Maiduguri.
The rail lines were intended to reduce road usage and the consequent rapid deterioration of the country’s road network.
Transportation Minister Diezani Alison Maduekwe says the government is reviewing funding options for the upgrade.
She has also ordered a full audit of the Nigerian Railway Corporation’s railway assets and property, saying more emphasis should be placed on assets to enhance the corporation’s revenue.

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