Facts: APC And Buhari Did Not Lift A Finger Or Spend A Kobo On The Airport Projects - Osita Chidoka - EazyFeeds

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Tuesday 30 October 2018

Facts: APC And Buhari Did Not Lift A Finger Or Spend A Kobo On The Airport Projects - Osita Chidoka

When I said I wanted to see projects completed through the National budget, neophytes exposed their ignorance on the Chinese infrastructure loans. I will explain a little because sometimes I am caught between social commentary and responsibility as a former senior govt. Official

The Chinese loan for the Airport terminals is a $500M loan with Nigeria providing counterpart funding of $100M

GEJ administration paid the counterpart fund in full in 2014. As at the time we left office FAAN Officials had chosen all the internal finishes and project was on track

The project is financed by the Chinese ExIM bank and contractor is paid by the Bank drawing from the $400M Chinese loan and $100M counterpart fund.

The current administration has nothing to do to complete the project. If they stop it Nigeria owes the Chinese and will pay

Check the Ministry of Transportation budget for 2017. Capital budget performance was16%. Of the N192b budgeted only N31b was released.

If the Airport project relied on budget appropriation the project would have been abandoned.

It is idiotic for anyone to argue that projects awarded with 48 months delivery time in 2014 recorded by 2015 as new or ongoing with below 10% completion as at May 2015  is abandoned or disgraceful.

Those projects captured in the budget are suffering delays due to poor funding

Check the budget of the Ministry of Transportation and show me where the Airport Terminals were appropriated in the budget.

For the new loans the government took for Railway projects only the counterpart fund was appropriated which is in order.

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