Apparently convinced about the inability of the contractor handling the Lagos-Ibadan railway project to meet the December 2018 target earlier set for its completion, the Minister of Transportation, Mr Rotimi Amaechi, on Tuesday ordered the company – Chinese Civil Engineering Company (CCECC) – to ensure that the train becomes operational before the presidential election scheduled […]
The Federal Government on Thursday explained that General Electric (GE), did not pull out of a planned $2.7 billion deal to concession and rehabilitate Nigeria’s narrow gauge railway as there was no agreement signed with the American company on the deal. The Minister of Transportation, Mr. Rotimi Amaechi, who made the clarification an interview on […]
Heritage Bank Plc has unveiled plans to provide financing for building critical maritime infrastructure and other transport sector projects once policies driving the projects are well articulated. A statement issued by the bank’s Divisional Head, Corporate Communications, Fela Ibidapo, indicated that this funding support would be provided by the bank through a partnership with the Nigerian […]
The Federal Government has committed about $3.1 billion out of its foreign loans to various railways and airports construction and rehabilitation projects in the past eight years. While the present administration has borrowed $1.6 billion to fast-track the completion of the various projects nationwide so far, the previous administration took $1.4 billion loans for the […]
The Minister of Transport, Mr. Rotimi Amaechi, has put the total funds required to construct the nation’s three major speed rail lines at about N46 billion dollars, about N16.56 trillion. Amaechi made this disclosure on Tuesday in Papalanto, near Abeokuta, Ogun State during a joint inspection of the Lagos-Ibadan standard rail gauge project he conducted […]