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FG borrowed $2.5bn from China Exim Bank to construct Lagos-Ibadan rail – Amaechi

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Rotimi Amaechi, the Minister of Transportation has disclosed that the Federal Government has borrowed about $2.5billion for the construction of a railway linking Lagos to Ibadan.

The Minister revealed this during an exclusive interview on Channels Television’s Newsnight aired yesterday.

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

“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”, he explained.

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Former Governor Amaechi  further noted that the Federal Executive Council had approved the two basic loan facilities presented by the Ministry of Transporation.

He stated that the administration of ex-President Goodluck Jonathan had borrowed $500 million for the Kaduna-Abuja rail line.

According to the Minister, since the inception of President Muhammadu Buhari’s government in 2015, the rail line “took us about $1 billion so we had to cough out the remaining money.

“When we came, part of the project was abandoned for the inability of the government to produce the counterpart funding. So what the government did was to release the counterpart funding and money for the extra work we needed to do.

“We had to buy the locomotives and coaches to enable us to commence commercial activities. For the Kaduna-Abuja, they lent $500 million”.

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Emir Sanusi: Reinstatement Deemed Preordained by Divine Will

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The Emir of Kano, Muhammadu Sanusi II, has been reinstated, attributing his return to the throne as nothing short of divine will.

 

Expressing gratitude towards the state government for what he termed a “rescue mission,” Emir Sanusi embraced his reinstatement as a testament to the workings of fate.

 

The reinstatement came swiftly after Governor Abba Yusuf signed the Kano State Emirate Council (Repeal) Bill 2024 into law, paving the way for Emir Sanusi’s return, four years after his deposition by the immediate past governor, Abdullahi Ganduje.

 

In a reflective moment at the Government House in Kano, Emir Sanusi remarked, “The Arabians used to say that in everything we witness, there is a lesson that shows us that God is there. Whatever happens to an individual is preordained by Allah, and for those who are sensible enough, it’s a lesson.” His words echoed the conviction that his restoration was part of a larger divine plan.

 

Recalling the cyclical nature of his journey, Emir Sanusi reminisced about the past, stating, “About 10 years ago, in this same place, former Governor Rabiu Musa Kwankwaso gave me my appointment letter as the Emir of Kano. Today, after 10 years, I am here again receiving a reappointment letter from Governor Abba Kabir Yusuf.”

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He continued with a philosophical tone, emphasising the inevitability of divine intervention in matters of leadership:

 

“Time will not permit long talks. Whatever we needed to say, we said when we were leaving. We made it clear that God has preordained the time and cause for everything and everyone. He gives leadership to whom He wants and at the time He wants. When He gives, no one can take it away, and when He takes it away, nobody can bring it back.”

 

 

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Nigeria Achieved 5,000MW Electricity Generation In May – Adelabu

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Nigeria’s electricity generation has surged to 5,000 Mega Watts in May 2024, marking a significant stride from previous levels, according to the Minister of Power, Adebayo Adelabu.

Speaking during the second day of the ministerial sectoral update for the present administration in Abuja, Adelabu underscored this achievement as a testament to the government’s dedication to bolstering the nation’s power infrastructure.

He emphasised that this milestone aligns with President Bola Tinubu’s renewed hope agenda, aimed at furnishing reliable and sustainable energy to the populace.

The upsurge in power generation is anticipated to tackle prevalent issues such as frequent outages and inadequate capacity, thereby fostering grid stability and diminishing reliance on generators.

Adelabu had previously outlined the Federal Government’s plans to elevate power generation to a target of 6,000 Mega Watts from the existing 4,000 MW by the close of 2024.

Expressing concern over the over-dependence on the national grid, the minister articulated a different target of 10-12,000 transmission capacity within the next three years.

He affirmed the determination of the Tinubu-led administration to shatter the long-standing 4,000 MW barrier that had persisted for decades before he assumed office as the 47th Minister of Power.

The recurrent national grid collapses have been a pressing concern for Nigerians in recent years. The Transmission Company of Nigeria (TCN) disclosed earlier that the country had encountered six power grid collapses in 2024 alone.

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Gas shortages for power generation and vandalism of power infrastructure have been identified as the primary culprits behind these recurring incidents of grid collapse in the nation.

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Sanusi Returns to Kano Throne

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In a surprising turn of events, Governor Abba Yusuf of Kano State has reinstated Muhammadu Sanusi II to the revered position of Emir of Kano, four years after his controversial deposition.

Sanusi, a former central bank governor, was ousted from the throne in 2020 by the previous administration, sparking widespread debate and criticism.

“With the full support of the kingmakers, I have approved the reappointment of Malam Sanusi Lamido,” the governor said to cheers at the Art Chamber of the Kano State Government House around 5:16 pm on Thursday.

Following the signing of the Kano State Emirate Council (Repeal) Bill 2024 into law, the governor  promptly announced the decision.

This new legislation supersedes the previous Kano State Emirates Council Law of 2019, effectively dissolving the emirate councils established by Governor Abba Yusuf’s predecessor, Abdullahi Ganduje.

Under the former law, Ganduje had orchestrated the division of the Kano Emirate into five entities in December 2019, resulting in the removal of the 14th Emir of Kano, Muhammadu Sanusi II, on March 9, 2020.

The emirates established during Ganduje’s tenure include Karaye, Bichi, Rano, and Gaya, in addition to the original Kano Emirate.

More details later..

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