Nigerian govt agrees funding for new railway
18 July 2012
The Nigerian federal government has revealed that it has reached an agreement with China Civil Engineering Company over the construction of a new rail line between Lagos and Ibadan, Daily Trust reports.
It has been confirmed that the construction contract is worth as much as $1.49 billion and is set for completion in 36 months' time.
The government is currently in the midst of plans to improve the country's transport network, which is in desperate need of improvement.
In addition to this agreement, the Federal Executive Council (FCT) has agreed to some minor adjustments to the Abuja metro project.
As part of these changes, the council concerned that the overall cost of the project is set to come down.
"The approval was necessary because the Abuja Rail Mass Transit System was an integral part of the FCT Transportation Master Plan designed primarily to convey a large number of commuters and goods between the satellite towns and different phases of the FCT," explained Bala Mohammad, the FCT minister.