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Sunday, September 16, 2018

Nigerian Govt Seeks Loan From Japan For Infrastructural Development

The Federal Government, through the Ministry of Transportation, has urged Japan to follow in the footsteps of their Chinese counterpart, and partner Nigeria on concessioning loans.
Rotimi Amaechi, Minister of Transport, stated this when he signed a Memorandum of Understanding with Japan to promote infrastructure investment and continuing cooperative relationship between both countries.
Stating that the concessioning loan interest rate falls around 1.5 per cent, he said: “we will be glad if the Japanese government can come in as the Chinese government has come in”.
Amaechi signed the MoU with Japan’s State Minister of Land, Infrastructure, Transport and Tourism, Tsukasa Akimoto at the Federal Ministry of Transportation, Abuja.
Speaking at the event, Akimoto, who was accompanied by Japan’s Ambassador to Nigeria, Yutaka Kikuta, said
: “As the State Minister in charge of infrastructure in Japan, I have been impressed that there is still a great deal of scope for Japan to co-operate on building the infrastructure in your country.
“As you all are aware, Your Excellency, Japan is putting in a great deal of emphasis on providing high quality infrastructure and in that respect, we are known in comparison to other countries such as China, Korea and European countries. If you look at the country’s cycle of infrastructure developed by the Japanese, ours is the most cost effective.
“You are aware that in the past, there has been much discussion of Japan’s cooperation with Nigeria in providing the other railway and development plan in Lagos Island, and we hope there will be more opportunities in the future for Japan to provide technical expertise and capacity building, and also to provide high quality infrastructure here in Nigeria.”

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FACEBOOK COMMENTS

Anuforo Osinachi James

Nigeria don't need loan. They are only lying on our head just to get money for 2019 election and prepare for the worst if the election is not to their favour. God pass you Hon. Amechi & President Buhari.

Endy Edeson

@James: Seriously? but the minister has said that the loan would aid infrastructuraldevelopment

Anuforo Osinachi James

Aid wetin? The one they've been collecting thus far, what as it been aiding?
2

Gbolahan Libra General

In fact, according to World Bank statistical bulletin, Nigeria has been on a high debt rate.
The debt is too much. Not China again but Japan this time.
1

Akintoye Adebareh Abdul Akeem

Are we not making money at all again in this country? Can't we do projects without loan?
2

Oginni Samuel Oluwaseun

I thought customs and efcc ate making billions everyday. Yet we still borrow like paupers
2

Jeremiah Ademolu

Borrow from China and another borrow from Japan. Who bewitched this Apc government
2

Bussy Duro

Thieves
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