The MoU is for cooperation in promoting quality infrastructure and to continue the positive relationship between Nigeria and Japan. The Japanese minister was accompanied by Japan’s Ambassador to Nigeria Yutaka Kikuta.
The Nigerian Minister of Transport noted that there is a massive infrastructure deficit in Nigeria which provides Japan an opportunity to invest – there is over 3,500km of railway, of which the Chinese have been able to build 300km with another 1,200km by the end of the year – which have been built through a concession loan.
The American investment will bring another 1500km of rail including two sea ports, the financial aspects in respect of the American investment were not disclosed. There is an additional need for 1,500km of rail to be built and it would be ideal for Japan and Japanese investors as a concession loan.
ORIGINAL SOURCE: Railways Africa