The Minister of Transportation, Rotimi Amaechi, says the construction of the eastern railway line will boost the economic fortunes of the South-South and South-East regions of the country.
The Minister said this on Wednesday on AIT’s Breakfast programme, Kakaaki.
On the economic viability of the project, Amaechi said the rail will not repay itself but will provide an enabling environment for economic revenue, to refinance the cost.
He, however, failed to state where the source of funding is to come from.
The Minister while allaying the fears and concerns of Nigerians on the burden of borrowed funds for the various infrastructural projects across the country, noted that the Federal Government is responsible and able to repay all loans incurred by the administration.
(Editor: Ifeanyi Mark)