ECONOMY: Nigerian Government Negotiates With US Over Lagos, Port Harcourt Railways

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As President Muhammadu Buhari had just flown out of Nigeria to the United States of America, the Presidency has now revealed some possible outcomes of Nigerian President’s meeting with Donald Trump.

President Buhari is expected to have a bilateral meeting with President Trump and a working lunch on Monday 30th April 2018.

The meeting is to discuss ways to enhance the strategic partnership between the two countries and to advance shared priorities, such as: promoting economic growth,
fighting terrorism and other threats to peace and security.

The Federal Government stated in its press release that ahead of Buhari’s visit to US today, meetings have been scheduled on 26th and 27th April, 2018, between senior Nigerian Government officials and executives of major US companies in the areas of agriculture, aviation and transportation.

In the area of transportation, the officials will meet with the GE-led consortium for the implementation of the interim phase of the narrow gauge rail concession.

The substantive concession agreement will be negotiated and finalized to provide the consortium the opportunity to invest an estimated $2bn, to modernize the rail line from Lagos to Kano (Western Line) and from Port Harcourt to Maiduguri (Eastern Line).

During the meeting, the concession framework and the interim phase framework agreements are expected to be signed.

In the area of aviation, the Nigerian officials will be meeting with Boeing, the largest aircraft manufacturer in the world, on the National Carrier Project.

On agriculture, they will meet with large equipment manufacturers with focus on harvesting and post harvesting equipment.

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