President Buhari has ordered a review of several railway transport projects signed by the previous administration with the Chinese government.
This, according to a statement by the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina, from Addis Ababa, is to boost urban development and social infrastructure.
Adesina added that the President, who regretted that the previous agreement with Chinese government did not yield any positive results, had, however, directed the Ministers of Transportation, Finance, Power, Works and Housing to revisit the agreements and explore ways of re-approaching the Chinese government for assistance.
He said the Chinese government had indicated interest to assist Nigeria on project financing through its Export-Import Bank.
He said: “The Chinese government was very generous to Nigeria on the projects signed with the previous government because they agreed to pay 85 per cent of the project. But the Nigerian government was unable to meet up with its counterpart funding of 15 per cent, so the Chinese government was unable to make any impact on the project.”