The Federal Government has approved the sum of $195 million to help secure Nigeria’s waterways and reduce crime in the maritime sector.
The Minister for Transportation, Rotimi Amaechi disclosed this on Thursday in Abuja at a press briefing to update journalists on the activities of his Ministry.
According to him, the amount was approved as payment to an Israeli company that will train the country’s security personnel that will man the waterways.
Amaechi explained that completing the Ibadan to Kano corridor among other road projects will boost the nation’s economy.
He explained: “We are currently in negotiation with the China EXIM bank to get nearly about six billion dollars to do from Ibadan to Kano.
“It is a difficult decision because the money required is about 8 billion dollars to do the double track but the Chinese are insisting that they cannot fund double track so they are asking us to do a single track.
“They are asking us to do a single track and they want it at Minna so that instead of going from Minna to Kaduna, we should go from Minna to Abuja and then join it from Abuja to Kaduna.
“But there are those who argue that we should not accept that, rather we should tell those (Chinese) to fund it in segments. This, however, does not make economic sense. We are compelled to adjust just to have movement of goods, personnel and services from Lagos to Kano.
“What makes economic sense is the ability to get the track to a seaport so that we can move goods. What makes economic sense to rail services is the movement of goods,” the minister added.
He said that the ministry was also in talks with some America companies to fund the Lagos to Calabar rail corridor and a Chinese company to fund the Port Harcourt to Maiduguri corridor.