US$40 BILLION REQUIRED FOR COMPLETION OF LAGOS-IBADAN RAIL PROJECT

Federal Government needs US$40 billion to complete Lagos-Ibadan rail project.

Nigerian Minister of Transportation, Rotimi Amaechi, said the Federal Government will be needing US $40bn to finance the ongoing Lagos-Ibadan railway project.

The project have been scheduled to finish this year (2018) and so Government are currently negotiating with the contractors handling the project to raise funds.

Rotimi Amaechi said between US $36bn and US $40bn will be needed, and its source is not certain at the moment, adding to this he said Government will also be focusing on Kano-Kazure, Daura, Katsina, Jibya and link Maradi in Niger Republic, as part of regional railway inter-connectivity of the ECOWAS sub-region.

While also speaking, the Minister hinted on the commissioning of 10 railway coaches and two (2) locomotives at Rigasa Station, Kaduna State, as a sign of Government’s commitment to accomplish a functional and efficient national rail transport.

He also recalled the success story of the first Nigerian standard gauge rail, which runs from Abuja in Idu to Rigassa in Kaduna that was commissioned  in July 2016 by the President.