Why Buhari Government Is Seeking More Loans From Europe- Amaechi Opens Up

Rotimi Amaechi who is well as the former governor of Rivers State and the minister for transportation has come out openly to talk about the loans which the federal government has been collecting from foreign banks.
The well known politician revealed the reason why the federal government is seeking for more loans from Europe. He revealed that the federal government is seeking for more loans from Europe so that they can complete the railway infrastructures in the country before 2023.
Rotimi Amaechi revealed this information to the public while fielding questions from State House Correspondents. He also stated that the federal government is now collecting loans from Europe because China is no longer giving out loans quickly.
According to him, ” It was during a press interview that I made that comment, and I said currently, we are actually waiting for the Chinese to give us the loan we applied for and they kept delaying us and for Christ sake, should we wait for them forever? The answer is no.
” So, we have gone to Standard Chartered Bank, which has approved our request. They have not done financial closure but have approved some level of fundings for the Kano- Maradi rail project. We are also pursuing Port Harcourt- Maiduguri with Standard Chartered Bank, these two essentially. The Lagos- Kano part of it will come from a top financial bank or some banks in China. ”
From the well written statement above, Rotimi Amaechi made it very clear that the federal government are now seeking loans from Europe. He also gave reasons why the federal government is now seeking more loans from Europe revealing that it is because of the railway infrastructures

World News