Minister of transportation, Mr. Rotimi Amaechi, says the rail infrastructure is a capital intensive sector and Nigeria needs about $45billion to solve the nation’s “problem of transportation to a great extent.”

Amaechi, on Tuesday, in an interview on Channels Television breakfast programme, Sunrise Daily, explained how much has been spent so far on rail infrastructure in Nigeria.

He said further that because the sector is capital intensive, huge funds will be needed to construct more railroads and acquire more coaches.

The minister agrees that acquiring more coaches will reduce overstretching the current coaches operating in railways in the country.

“It is capital intensive. N1trillion is about $2.7billion and that is just about 200kilometres of the railway. So if you plan to do Lagos-Ibadan and you are looking at about $8.7billion – this will be between N3trillion and N4trillion. How much is the budget of the country?

“That is why I said we need about $35 to $45 billion to be able to do Lagos-Kano, Port Harcourt-Maiduguri, Lagos-Calabar, and Abuja-Warri. Once you do these four tracks, you have covered the country, and you have solved the problem of transportation to a great extent,” he said.