Projects Tied To The Recent Loan Request Sent To The Senate By President Tinubu

<blockquote>Below is a breakdown of some projects tied to the recent loan request sent to the Senate by President Tinubu.<br><br>Construction of the eastern rail line (Port Harcourt to Maiduguri railway) - $3 billion <br><br>Construction of the AkwangaJosBauchiGombe dual carriageway, with a four-year completion horizon - $1.33 billion<br><br>Two separate allocations$1.14 billion and $1.07 billionwill fund the Eastern and Western Super Grids, respectively.<br><br>Other Chinese-backed projects include $100 million for the Presidential Power Initiative aimed at improving electricity distribution infrastructure.<br><br>$116 million for high-voltage transmission lines to evacuate 700 megawatts of electricity from the Zungeru hydropower station. <br><br>$508 million will go to modernising Nigerias eastern port infrastructure<br><br>$2 billion for the Lagos Green Line Rail Project<br><br>$596.2 million for the procurement of rolling stock on the KadunaKano section of the national rail modernisation efforts.<br> <br>Youth Entrepreneurship Investment project with a five-year implementation period to be funded by AfDB- $100m<br><br>Sokoto State Health Infrastructure Project to be funded by AfDB - $45m<br><br>Yobe States Integrated Climate Action Project to be funded by AfDB - $50m<br><br>Lekki Access Roadalso known as the 7th Axial Road Projectwith a timeline of three years to be funded by Export Credit Agency - $250 million<br><br>Nigeria Border Security Project under the second phase of a broader national security initiative to be funded by Export Credit Agency - $540 million<br><br>Lagos-Calabar Coastal Highway project to be funded by Export Credit Agency - $700 million.<br><br>Emergency food security programme, to be funded by Japans International Cooperation Agency (JICA) - 150 billion <br><br><b>Senator Sani Musa clarified that the borrowing plan spans a six-year disbursement period, not solely the 2025 fiscal year. He also noted that Nigeria has not defaulted on any of its existing loan repayments.<br></b><br>Senator Victor Umeh (Anambra Central) threw his weight behind the borrowing plan, expressing satisfaction with the long-awaited investment in southeastern infrastructure.</blockquote><br><a rel=ugc href="https://x.com/DOlusegun/status/1948267676389806305't=teod9DQLegsYscEEGmRFwQ&amp;s=19">https://x.com/DOlusegun/status/1948267676389806305't=teod9DQLegsYscEEGmRFwQ&amp;s=19</a>
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