• Tuesday, June 25, 2024
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Nigeria’s Kano-Maradi rail project may not yield money, says Rencap

Rail Project: FG yet to reach a binding agreement with UK company – Alkali

Nigeria’s Kano-Maradi rail project signed by the Federal Government on Monday may not make any money, Charlie Robertson, chief economist, Renaissance Capital, said on Tuesday.

“I can’t see that investment making money,” Robertson said while responding to questions during a virtual meeting on ‘Naira in 2021: Optimising Choices for Growth’ organised by Arbiterz in partnership with Cordros.

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The Federal Government disclosed on Monday that it had signed a Memorandum of Understanding with Mota-Engil Group for the construction of the $1.959bn Kano-Maradi standard gauge rail project, which connects Nigeria and Niger Republic.

Robertson said Nigeria should use the small cash it has to invest wisely, not for political reasons but for economic reasons.