Udoma seeks more funds to complete Abuja light rail

Minister of Budget and National Planning, Udoma Udo Udoma, yesterday called on the Chinese government to consider the release of fresh financial assistance to Nigeria for the completion of the Abuja light rail project.

Former President, Olusegun Obasanjo performed the groundbreaking of the Abuja light rail project in May 2007, to construct a mini rail transport system in the Federal Capital Territory.

It is expected to link major suburbs such as Nyanya, Kubwa, Maraba and Lugbe. As of July 2013, the project awarded to Chinese company, CCECC is only about 40 per cent complete with a targeted date of completion put at 2015.

Udoma, who made the appeal to China’s Vice Minister of Commerce, Mr. Qian Keming who led a delegation of Chinese expatriates to attend the 6th session of the Economic Trade and Technical Cooperation Joint Commission between Nigeria and People’s Republic of China, said that such additional funds would be pumped into completing the Abuja light rail, which was designed to complement the Abuja-Kaduna railway line.

He noted that since the last session of the joint commission session, the bilateral relationship between the two countries has risen further, with increased trade activities, investment and technical cooperation.

Udoma, explained that the volume of trade between the two countries has risen from $6.37 billion in 2009 to $14.94 billion in 2015, adding that China has also marked up investment in Nigeria in sectors such as oil and gas, construction, manufacturing, banking and finance and agriculture.

On plans to bridge the level of trade imbalance between China and Nigeria, the minister called on the Chinese government to reduce the high tariff on agriculture exports from Nigeria, currently at five percent. Such a reduction, the minister said would immediately narrow the trade imbalance, which clocked $5.9 billion in the last five years.