Home Business $1.5bn Lagos-Ibadan new rail project begins in February
$1.5bn Lagos-Ibadan new rail project begins in February
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$1.5bn Lagos-Ibadan new rail project begins in February

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The Federal Government will commence the construction of a standard gauge rail line from Lagos to Ibadan next
month.

The Managing Director, Nigerian Railway Corporation, Fidet Okheria revealed this.

The project, which has been awarded to the China Civil Engineering Construction Corporation, is being jointly funded by the Nigerian and Chinese governments.

It will cost about $1.5bn.

Already, the Federal Government has made its counterpart funds available, while China promises to release its own by the end of this month, according to Okheria.

This is coming about six months after the Federal Government and the Chinese firm signed an agreement for the project.

Okheria said the new line, when completed in 18 months, would co-exist with the old narrow gauge rail line.

Arrangements were being made to start the construction of the Lagos-Calabar and Kaduna-Kano rail lines.

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