Stella Dimoko Nigeria's Minister Of Transportation Amaechi Says Nigeria Borrowed $2.6bn From China For Lagos-Ibadan Rail


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Tuesday, March 30, 2021

Nigeria's Minister Of Transportation Amaechi Says Nigeria Borrowed $2.6bn From China For Lagos-Ibadan Rail

The Minister of Transportation Rotimi Amaechi has confirmed that the Federal Government of Nigeria has borrowed about $2.6billion from China Exim Bank for the construction of a railway linking Lagos to Ibadan.

He revealed this during an interview with Channels TV on Monday night.

He said: “If you look at the whole total cost, it will be $2.5 to $2.6 billion that we have borrowed from China Exim Bank.”

He explained that the Federal Government’s decision to extend the rail line to the nation’s seaports is for the economic benefit associated with it.

He added, “But at the end of the day, the project is costing about $2 billion. The government is coughing out more than just $200 million. We are bringing out about $700 million because we have to end to the seaport in Apapa which was not part of the original design.

“So we had to take about 45kilometres rail from Ebute-Metta into Apapa seaport. Everything together is about $2 billion. There is an additional one they are going to bring to connect Tincan Island Seaport to Apapa, that will be some extra cost which we have to borrow from them.

“They also lent us about $1.4 billion for the Lagos-Ibadan while the Federal Government had to cough out about $200 million to make it $1.6 billion.”

from pmnewsniheria.

*How will they pay back? Why did China borrow Nigeria so much money?


  1. Chinese don't t care how much you want to borrow so far they can take control of your assets once you default. And with the population we have they will put into the agreement that they will ge granted rights to import their China products into Nigeria. A white man can ignore lending because they have conscience but china, never.

    Sometimes I doubt there there is a future for Nigeria. We are so corrupt to the detriment of ourselves.

  2. This... No sane Nigerian should sleep with two eyes with the implications of these. Economic terrorism is real and that country is a big, merciless, hyper-ambitious one. Neo-colonialism is our new reality. These political office holders have sold us out, buying citizenship elsewhere and throwing generations to come in hell. Trust me, we don't want to play this game with the Chinese.

    You ask why Is China lending us so much... Do you have an idea the kind of resources Nigeria sits on? we are the last to know. See them running around gold mines like hyenas. This pattern is working for them, Read up their activities in Sri Lanka, Mozambique. Conquering Nigeria means other smaller resource rich African countries don't stand a chance at all.

    I feel disgusted at the kleptomaniac antics of our misrulers. The famzing Legislature can do nothing to even ask questions or probe, all are in, grabbing away. There is worse trouble oh coming. The ease of getting these loans and the growing dependency... It's like a financial cocaine. Easy oil money has been called a curse, what's worse than easy Chinese loans?

  3. I'm not surprised. Nigeria leaders have unofficially sold Nigeria to China. Modern day colonialism masked with loans. The guts of the chinese these days.... You'd think they own Nigeria.

  4. God will punish all our corrupt leaders and their households for doing this to us.
    Chinese of all people, must they borrow, oour resources is enough to build so many infrastructures.

  5. I won't be surprised if we wake up one day and realized that the Chinese flag is being erected at the villa, replacing ours. Greedy lots

  6. China is trying to take over Africa by this they give u loans they know you cant pay back and inturn take over your assets and bring people from China to work there where the local work as slaves and earn peanuts. I fear for our future and future generations when these old lads are gone.

  7. I have listen to some of his interviews..
    Rail and road construction to Nigeria Republic.
    Railway University in Daura
    All with borrowed money.

    He wasted money in port harcourt building and abandoning monorail.
    Rotimi Amaechi will pay dearly for all these evil he is being used as a demonic tool to destroy Nigeria.

  8. they should sha not go and borrow from north korea ooooooooooooooooo

    1. If they try it then we are officially gone


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