NinjaXmetahuman:
*facepalm*

The bridge estimated worth is 1 billion dollars.

1 billion dollars to official rate is 450 billion dollars.
Black market rate if 750 billion naira.

Premium times used official rate and that was 2020.
Naira has fallen huge after that

https://www.nairaland.com/7022186/n400b-second-niger-bridge-see

So why use black market rate when we have official rate?

Fact remains - it was around 130 billion naira when it started and huge money have been invested in it before APC came and destroyed the naira.


https://www.premiumtimesng.com/regional/ssouth-east/175127-weve-spent-n10bn-2nd-niger-bridge-far-jonathan.html?tztc=1

AnyanwuSilas:


So why use black market rate when we have official rate?

Fact remains - it was around 130 billion naira when it started and huge money have been invested in it before APC came and destroyed the naira.


https://www.premiumtimesng.com/regional/ssouth-east/175127-weve-spent-n10bn-2nd-niger-bridge-far-jonathan.html?tztc=1

*facepalm again*
you go school so?

Again
The bridge was estimated to worth 1billion dollars since the days of Obasanjo.

Dollar was 130-150 dollars during Jonathan era.

130 billion naira divided by 1billion, how much is that?

Who fucking cares who spoiled anything.

Buhari delivered 1bilion dollars worth of bridge. Same bridge pdp used to campaign for 16 years. Yet zero appreciation except hate.

Then that fool is wailing cos another region is getting infrastructure.

NinjaXmetahuman:
*facepalm again*
you go school so?

Again
The bridge was estimated to worth 1billion dollars since the days of Obasanjo.

Dollar was 130-150 dollars during Jonathan era.

130 billion naira divided by 1billion, how much is that?

Who fucking cares who spoiled anything.

Buhari delivered 1bilion dollars worth of bridge. Same bridge pdp used to campaign for 16 years. Yet zero appreciation except hate.

Then that fool is wailing cos another region is getting infrastructure.

Keep the lies to yourself

Cyberterror:
A good project but they should put border checkpoints at the border point of the rail line to check influx of illegal aliens and contraband.

good project to which country can you take rail to niger,i don't know why same 9ja people always see the wrong things as the right one,i don't know if 9ja have rail from Abuja to Lagos or from delta to Kaduna here you are welcoming a good project of rail from 9ja to niger,am strongly believe that the state you are have no rail

Spot on

BornStoic:
9400 passengers * 1500 per trip * 365 days in one year = 5.1 B per year


Divide it by 450B the project cost. It will take us 90+ years to pay back. Factor in maintenance cost, loan interest and salaries that bumps you up to 150+ years.


Truth is rail is important but fix it where the demand is. 9400 + passengers a day doesn’t make economic sense to venture into such a humongous project.

Numbers never lie

AnyanwuSilas:


Keep the lies to yourself

you have been schooled.

Next time, google stuff before you jump to quote someone.

NinjaXmetahuman:
you have been schooled.

Next time, google stuff before you jump to quote someone.

There is no prove to back what you wrote so it should be dismissed as lies

sukar886:
The should also approve money for ibaka seaport akwa ibom state, abi that one no follow

one thing you need to understand if that when it comes to project or anything that involves money, Nigerian government doesn't see SS and SE as part of nigeria, it is only the north and SW that is been classified as Nigeria.

presonto:


https://punchng.com/fec-approves-n454bn-for-kano-niger-republic-rail-others/

Misplaced priority

Can someone explain to me the benefit of the Kano to Niger project?

The rail project for a job well done. Only the matured will understand.

Meanwhile, our references are still down.

What a country.

So the government is spending USD1billion essentially to build a rail road to a country that the total value of exports to was USD138million in 2020 (of which electricity export accounted for 36% of this figure)?

If the rail road cannot pay for itself (repay the loan), whats the point of such construction?

The lack of critical thought that goes into decision making is the reason our leaders continue to impoverish the African continent.

I would have called this a "railway to nowhere"

It only makes sense if Nigeria truly becomes the transhipment route of Niger republic's product, whether for import or export, through the nation's ports.

AnyanwuSilas:


So why use black market rate when we have official rate?

Fact remains - it was around 130 billion naira when it started and huge money have been invested in it before APC came and destroyed the naira.


https://www.premiumtimesng.com/regional/ssouth-east/175127-weve-spent-n10bn-2nd-niger-bridge-far-jonathan.html?tztc=1

Best practice is that the differential between the official rate and the parallel or black market must never be more than 3%. The present huge differential is due to Buhari's meddling in the setting of the exchange rate. This is the primary reason the economy has been in tatters ever since he assumed office.

The parallel market rate is assumed to be the real rate of the currency in such the present scenario. Or can you walk to a bank and buy $100 at the 440 rate. Or better still, can you sell your dollars at that price? Only the stupid federal government that does not work for the money can afford to sell it at such a stupendously low value.

May whatever you wish your fellow human being be your portion

Rulerofalaigbo:

They should stay to be punished for the stupid coup plot that killed Tafawa balewa and prominent ppl of other tribes
They will pay from generations to generations

Lol
Your comments should be in the jokes section…..

Cyberterror:
A good project but they should put border checkpoints at the border point of the rail line to check influx of illegal aliens and contraband.

Give me two reasons why this is a good project considering we are yet to perfect our intra state transport/trade.
The fact that you even mention that illegal aliens and contraband thing is just insane to now call it a good project.

Rulerofalaigbo:
Welcome development
I'll rather av trading partnership with Nigeriens than Some wasteland ppl from a particular doted region
Nigerien holds a significant stands in fighting terrorism in Nigeria so they deserve all the appealing development we bringing to them unlike some ppl who adds no political or economic value even security values to our dear nation

Evn ur ancestors will be spiting on u right now, what a disgrace to humanity u are

freemanq:
What are we gaining from niger Rep?

It is a shipment route to the hinterland where they don’t have sea ports. Crude and refined petroleum products too would be shipped to those African countries through that rail, all though we cannot rule out other ancestor-related benefits.