Nigerian govt releases N72 billion for Lagos-Ibadan rail line

A train used to illustrate the story

The Federal Government of Nigeria has released N72 billion as its counterpart funding for the construction of the Lagos-Ibadan rail line.

The money released is what is required to access a loan from the Chinese government for the project to kick off.

The Minister of Transportation, Rotimi Amaechi, stated this on Monday during the Quarterly Business Forum which held at the Banquet hall of the Presidential villa Abuja.

He said the N72 billion is the full sum required as counterpart funding to avoid delaying the project.

“As for the construction of Lagos-Ibadan Railway, the Minister of Finance has been kind enough to release the counterpart funding in full,” he said.

He also said the nature of the release is the first in the history of Nigeria.

He said the Chinese authorities already approved the loan and therefore urged the National Assembly to urgently pass the $30 billion loan request sent by President Muhammadu Buhari.

“The only thing we need to do, I thank God there is somebody from the National Assembly here, is to plead with the National Assembly that the funds have been approved, then the National Assembly should please approve the $30bn loan.

“If you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want the economy to make.

“So, for me here, I will join to persuade the National Assembly to kindly make that approval because they are tied to projects,” Mr. Amaechi said.


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  • Mufu Ola

    The Lagos Ibadan new rail should not go through Abeokuta like d old one which makes the journey excessively long.It should run parallel with the Lagos Ibadan expressway. That Abeokuta route is an unnecessary Israelite’s journey.

    • Rataya Tambai

      Hahaha…. People, you just can’t please them….. so so funny!

    • Dazmillion

      Abeokuta is a major town

      • Mufu Ola

        Because Abeokuta is a major town, u spend 5hours to get to Ibadan from Lagos?

  • FirecloudOFGOD

    In this day and age, countries use fast trains. Japan’s high speed bullet trains also known as Shinkansen trains, offer speeds of up to 320 km/hr! The main bullet trains line is between Tokyo to Osaka. China is at the moment trying out bullet trains going at 217 miles/ hour!

    From the pictures of trains that I am seeing, it is not impossible that China is shipping to us in Nigeria, dismantled trains that have since expired. I recall the detestable Lagos Government Scania bus saga of yesteryears! Crooks as politicians will continue to ruin the lives of those Nigerians without choice.

    • Rataya Tambai

      ….Yet another funny guy…..doesn’t see anything good in just about anything!

      • FirecloudOFGOD

        What kind of thinking exists these days?

    • Rommel

      These are diesel powered trains that go as fast as 185KM/H,Nigeria does not have home grown technology and seems not to be interested in developing one so cannot maintain sensitive facilities like high speed trains,the Japanese have been on high speed train technology for decades,same with Europe,US does not have,China is fast catching up,all nations that have it also have expertise,we have to take responsibility for the failure of the nation,criticisms should be constructive and realistic

      • Rataya Tambai

        EDUCATE him please……. EDUCATION is not all about writing and speaking good English!

      • FirecloudOFGOD

        You also failed to get it!

    • El Patron

      I get the point you are trying to make, but you need to remember that you have to crawl before you can walk and walk before you run. If we have trains in Nigeria that move at 320km/hr, you will never find me on that train. I wonder whether you yourself will enter. What happens in case of an emergency if the train derails at that speed? Even if there are survivors how long will it take for emergency workers to get there. And when they get there will they be properly equipped for the rescue job? How many ambulances will they come with? etc. We are a long way from that kind of development. What we need now is to start a gradual period of incremental infrastructural advancement. and by the way the picture depicts old trains that have been in Nigeria for years

      • FirecloudOFGOD

        No, you did not get!

        • lescrowe

          The article says the government did its part as promised and somehow you see in that an opportunity to criticize the country. Wow.

          That kind of mindset is unproductive btw.

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