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Business News of Friday, 2 October 2020

Source: nairametrics.com

Kano-Niger rail line will service landlocked countries around Nigeria – Amaechi

File photo: Rotimi Amaechi File photo: Rotimi Amaechi

The Minister of Transport, Rotimi Amaechi says that the Kano-Niger rail, is favorable to Nigeria as it would enable Nigeria to service landlocked West African nations through the movement of cargoes to Lagos and also make Nigeria compete with other coastal West African nations.

The Minister made this known in an interview with Arise TV on Thursday, October 1, 2020.

Nairametrics reported last week that the Federal Executive Council has approved the disbursement of $1.96 billion, for the railway line from Kano in Nigeria to Maradi in Niger Republic.

Mr Amaechi said; “Most coastal economies are competing better than us, in terms of cargo, we decided to join the market and compete to make the Lagos seaport viable. Since they ( Niger republic) are not going to use the roads because they are afraid of crime, customs and police checkpoints, we introduced the Kano-Maradi line so that they can convey their goods from Maradi to Lagos seaport”.

The Minister added that the FG is looking forward to the approval of the Port Harcourt – Maiduguri rail line by the cabinet hopefully by next week. The Bonny Seaport is already approved by the President, while Lagos – Calabar is still on the table.