Saturday, April 20, 2024
MARKET UPDATE
Advertisement Topt

TheCable

Advertisement lead

FEC approves $11bn for Lagos-Calabar coastal rail project

FEC approves $11bn for Lagos-Calabar coastal rail project
August 04
19:48 2021

The federal executive council (FEC) has approved the sum of $11.17 billion for the Lagos-Calabar coastal rail project to link all coastal cities in the country by rail in six years.

Lai Mohammed, minister of information and culture, announced this while briefing state house correspondents after the virtual FEC meeting on Wednesday at the Presidential Villa, Abuja.

Mohammed said Rotimi Amaechi, minister of transportation, presented two memos which had to do with federal government’s commitment to expanding and consolidating on the rail project.

“The first one actually has to do with the Kano-Jibia rail and the other one has to do with the Port Harcourt-Maiduguri rail,” he said.

Advertisement

“Actually what was approved today was funding to ensure that work starts immediately on those two rails.

“And then, also another memo that was approved today was the ratification of the president’s approval for the award of contract for the Lagos-Calabar Coastal Standard Gauge.”

Mohammed said the project was an old project which was inherited by current administration.

Advertisement

He said that under the former administration, approval was given but nothing was done.

“Today, the council has given approval to commence the Lagos-Calabar coastal rail,” he added.

“This particular route is very important because after the Lagos-Kano route, this Lagos-Calabar coastal route actually will link all the coastal cities in the country.

“Actually, the proposed route alignment is as follows; it will go from Lagos to Sagamu, Sagamu to Ijebu-Ode, Ijebu-Ode to Ore, Ore to Benin City, Benin-City to Sapele, Sapele to Warri, Warri to Yenogoa, Yenegoa to Port Harcourt, Port Harcourt to Aba, Aba to Uyo, Uyo to Calabar, Calabar to Akamkpa to Ikom, Obudu Ranch with branch lines from Benin-City to Agbo, Ogwashi-ukwu, Asaba, Onitsha and Onitsha Bridge and then Port Harcourt to Onne Deep Sea Port.

Advertisement

“This particular route is very important especially for our coastal economy; the cost of the project is 11. 17 billion dollars.”

 

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.