In a letter which Yakubu Dogara, speaker of the house of representatives, read on Wednesday, Buhari pleaded with the lawmakers to endorse the loan on time in order to make the the country access the China-African fund provided for in the 2016-2018 external borrowing plan.
He said that the fund was limited and applications from all over the continent are funded on first come, first serve basis.
The president said these projects form part of the overall plan to resuscitate the rail transport across the country and drive economic growth.
“I wish to refer to my earlier letter with respect to the above subject and to inform the distinguished senate that the China Exim bank has approved our request for a loan to execute the Lagos-Kano railway modernisation project, Lagos-Ibadan segment for a sum of $1.231 billion,” the letter read.
“The China government has also informed us that the approval of the Lagos-Kano railway modernisation project, Kano-Kaduna segment and coastal railway project, the Lagos-Calabar segment are imminent.
“China Exim supported projects; Lagos-Kano modernisation projects, Lagos-Ibadan segment $1.231 billion; Lagos-Kano railway modernisation project, Kano-Kaduna segment $1.146 billion and coastal railway project, the Lagos-Calabar segment 3.474 billion, making a total of 5.851 billion.
“As you are aware the funds available under the China-African fund are limited and loan applications from all over Africa countries are funded based on first come, first serve and therefore there is an urgent need to sign these loans as soon as they are approved or we may loose out in the event that we delayed in signing the loan agreement.
“These loans form part of the overall money for the rail strategy. We are in the process of completing the concession of the port Harcourt Maiduguri line to immediately link the eastern part of the nation.
“We fully intend to source further concessioning funding to ultimately upgrade this critical line to high speed standard gauge. These projects form the overall plan to resuscitate the rail transport across the nation and thereby drive inclusive growth.”
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Borrow what?...
ReplyDeleteThief!...
What happend to all the recovered loot?...
They shouldn't allow him!...he want to borrow and travel for his health!...
Rubbish!!...
My tots exaltly....9ja which way?...
DeleteDon't mind him, he wants to save money for his family before he dies, so that his family would be settled for life, all the ones they have been stealing never do him. Wait, isn't he sick and working from home? Who Is fooling who
DeleteSMH
DeleteThey should tell him to use his legs and come submit it himself. Nonsense!
DeleteI think Buhari isn't the one presiding over Nigeria again...what happened during Y'aradua is happening again...someone wants to loot Nigeria dry with the Presidents name!
DeleteAll political criminals. Shameless & most irresponsible leaders on planet earth.
DeleteGod!!! This is becoming unbecoming fa. Na like this we go de dey?🤔
ReplyDeleteVuharia and Amaechi want to use this railway whatever to steal us blind...
ReplyDeleteThieves!...
Ndi ori!...
My sister, d tyn tire me...
DeleteOga rail is not a priority now,it wont stop people from committing sucide!! Focus on the agricultural aspect to boost the economy. BtW, wetin do all d money they have been finding in politicians house of late?????
ReplyDeleteFor the umpteenth time, this almajiri is seeking to borrow money and leave us in debt. What exactly is wrong with The Zoo?
ReplyDeleteAll the monies they have been collecting all these 2 years, wetin dem use am do?
ReplyDeleteHe no dey attend FEC meeting but he dey sabi write.
Wetin concern me self
If National Assembly approves this money it can't be accounted for. They wan chop because Vuharia is sick....See their method. The president may not be aware of this letter, no be naija we dey?
ReplyDeleteHa! Gbese!
ReplyDeleteAll these recovered loot should just be used to "upgrade" whatever sector they want to upgrade. I don't care who stole the money, no matter how long you've worked in government, there's just a limit of funds you can have.
ReplyDeleteBuhari complaining that GEJ put us in this mess so he wants to now destroy the next govt or what?
All the recovered money, channel it it the sectors that need upgrade. I even pray no one borrows Nigeria. What type of country is this?
I always get angry listening to news and all.
We're jobless at home here and ppl are looting funds. You won't employ the graduates, only old old men everywhere. Mschew.
Jesu gba wa o. Oluwa si oju anu yin wo wa o. 😑😑😑
ReplyDeleteBorrow gini? They should collate all the money they collected for whistleblowing from EFCC and use it for whatever. Why is he chasing corruption to recover money meanwhile he cant use the money. Mbanu. Use from the ones you have collected so far. They shouldnt approve it. Na so #Dasukigate take start. Una wan borrow again to pay specialists who flew in from abroad to tend to you saying its for railway.
ReplyDeleteStupid government. So all the loot they've been recovering can not be used? Ndi ara.
ReplyDeleteTHIS is WRONG AND IT IS CALLED CORRUPTION. PRESIDENT BUHARI CANNOT BORROW $5.851billion WHILE AT HOME AND IN THE OTHER ROOM.
ReplyDeleteBorrow,steal,beg,sha let the railways start functioning.
ReplyDeleteHow about all these billions of Naira, millions of dollars & pounds that have been recovered. What's happening to d recovered money😬😡
ReplyDeleteExactly
DeleteHow about all these billions of Naira, millions of dollars & pounds that have been recovered. What's happening to d recovered money😬😡
ReplyDeleteThe ones in the budget is stolen and blown, that's not enough
ReplyDeleteThey still want to borrow and steal and heap the burden on the ordinary people
Where an emir alone blows 3billion in less than 2 years!
And one man alone hides 50m dollars in his house
How can the country progress?
How about all the recovered billions. But baba dey sick. Who wants to borrow this money in his name? I hope it is not what I am thinking
ReplyDeleteHe who goes about borrowing goes around sorrowing.
ReplyDeleteso they want to sink and bury this country in debt. what happen to the treasury account they are operating, the loots they have recovered etc. can they focus on agriculture sector and manpower development. Na wa for this govt o
ReplyDeleteBorrow ke!? He should not try it fa, where all the money we whistle blowers blow blow get for naija na?
ReplyDeleteOleeeee, ajiboleeee
ReplyDeleteCan't they make use of all the recovered money? Na wao for APC government..
ReplyDeleteHe wants to repair mostly northern railway . What about those in the south south and eastern Nigeria. This is so annoying. There is famine and u are talking about railway. To carry goods or corpses. Moreover it's a deal with China. They will bring inferior materials that will rust and bend in few months.
ReplyDelete