{"id":45214,"date":"2021-06-18T14:36:42","date_gmt":"2021-06-18T13:36:42","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi"},"modified":"2021-06-18T15:14:04","modified_gmt":"2021-06-18T14:14:04","slug":"nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi","title":{"rendered":"Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a>. <\/strong><\/span>Minister of Transportation, Rotimi Amaechi, has claimed that the Federal Government has repaid up to $150m out of the $2bn loan borrowed from China to construct rails.<\/p>\n<p>Amaechi stated this while answering questions on Channels Television\u2019s \u2018Politics Today\u2019 programme on Wednesday.<\/p>\n<p>The minister noted that the President Muhammadu Buhari administration only borrowed for the Kaduna-Abuja and the Lagos-Ibadan railways.<\/p>\n<p>When asked how much of the Chinese loans obtained that the Federal Government has repaid, Amaechi said, \u201cThe right ministry to respond to that question is the Ministry of Finance; they borrow and they repay but I think the last I heard about it, it was between a $100m to $150m repayment that we have done so far in the Kaduna-Abuja.<\/p>\n<p>You\u2019re president to protect Nigerians, not just borrowing money \u2013 Wike mocks Buhari<\/p>\n<p>\u201cDon\u2019t forget that we\u2019ve not borrowed any money yet, the only money we borrowed is in Kaduna-Abuja and Lagos-Ibadan.<\/p>\n<p>\u201cLagos-Ibadan, what we borrowed is about $1.5bn though it is not matured for repayment, what has matured for repayment is the Kaduna-Abuja which is being repaid.<\/p>\n<p>\u201cNigerians think we borrow so much but the only projects we have borrowed so far is the Kaduna-Abuja where we borrowed $500m and Lagos-Ibadan where we borrowed $1.5bn. So, that brings the total loan exposure for us in the Ministry of Transport to about $2bn as far as the railway is concerned.\u201d<\/p>\n<p>CBN explains why Nigeria can\u2019t stop borrowing<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Minister of Transportation, Rotimi Amaechi, has claimed that the Federal Government has repaid up to $150m out of the $2bn loan borrowed from China to construct rails. Amaechi stated this while answering questions on Channels Television\u2019s \u2018Politics Today\u2019 programme on Wednesday. The minister noted that the President Muhammadu Buhari administration only borrowed [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":45213,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,28,14,26],"tags":[1570,2140,250,3770,254],"class_list":["post-45214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-amaechi","tag-chinese","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi - Nigeria<\/title>\n<meta name=\"description\" content=\"Minister of Transportation, Rotimi Amaechi, has claimed that the Federal Government has repaid up to $150m out of the $2 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi\" \/>\n<meta property=\"og:description\" content=\"Minister of Transportation, Rotimi Amaechi, has claimed that the Federal Government has repaid up to $150m out of the $2 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-18T13:36:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-18T14:14:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/06\/img-60ccaa00a009e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"935\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi\",\"datePublished\":\"2021-06-18T13:36:42+00:00\",\"dateModified\":\"2021-06-18T14:14:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\"},\"wordCount\":255,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/06\/img-60ccaa00a009e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Amaechi\",\"chinese\",\"Nigeria\"],\"articleSection\":[\"all news\",\"homepage-english\",\"Policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-govt-has-repaid-150m-out-of-2bn-chinese-loan-amaechi\",\"name\":\"Nigerian govt has repaid $150m out of $2bn Chinese loan \u2014 Amaechi - 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