Infrastructure News & Reports Railway Transportation

FEC Approves $2.8m For Ibadan-Lagos, Port Harcourt-Maiduguri Rail Projects

The Federal Executive Council has approved $2.8million for the procurement of rolling stocks operational maintenance equipment for Ibadan to Kano standard gauge and Port Harcourt to Maiduguri narrow gauge railway projects. The Minister of Transportation, Rotimi Amaechi, made the disclosure when he addressed State House correspondents at the end of the Council meeting presided over …read more →

Infrastructure News & Reports Railway Transportation Urban Renewal

Rail Line Projects: Lagos Assembly Applauds Sanwo-Olu

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, and his colleagues on Tuesday commended Governor Babajide Sanwo-Olu for his efforts to complete the State’s rail projects. The lawmakers also praised the governor for also expanding transportation through the waterways. This was made known to Newsmen by Eromosele Ebhomele, Chief Press …read more →

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Lagos Consolidates on Infrastructure & Education in 2022 Budget

The Lagos State government has earmarked huge capital expenditure in the 2022 fiscal year to service key growth areas to consolidate the recovery of the state’s economy and positively impact residents’ livelihoods. In the proposed N1.388 trillion budget for the year 2022 presented to the Lagos State House of Assembly on Wednesday, Governor Babajide Sanwo-Olu …read more →

AFRICAReports Infrastructure Infrastructure Financing News & Reports Railway Transportation

Nigeria To Borrow from Credit Suisse, Standard Chartered to Fund Next Stage of Railway Projects

Nigeria is negotiating a raft of loans from Chinese and European lenders to fund railway projects in the country, transportation minister Rotimi Amaechi said. Amaechi said Standard Chartered had agreed to fund $3.02 billion for the ongoing Port Harcourt-to-Maiduguri railway project. He had previously told Bloomberg that the government was in talks with Standard Chartered …read more →

AFRICAReports Infrastructure Infrastructure Financing News & Reports Railway Transportation Urban Renewal

Lagos Is Issuing Fresh N85 Billion Bonds To Secure the Future of its Infrastructure

The Lagos State House of Assembly said it approved the state government’s request to issue fresh bonds and take a bank loan because of the relief it would bring to the state. Governor Babajide Sanwo-Olu had asked the state legislators to approve a N85 billion special dispensation for bond redemption and for bridge loan. In …read more →

Infrastructure News & Reports Railway

Construction of Coastal Rail Line on Track as FG Sources for Funding

The Federal Government has said that its plans to establish rail lines along coastal states across the country targeting Lagos to Calabar in Cross River state is still on course. Speaking to Journalist in Lagos, the Minister of Transportation, Mr. Rotimi Amaechi confirmed that there are plans to construct rail line along the coastal corridor …read more →

Infrastructure News & Reports Railway Transportation WORLDReport

Iran, Afghanistan Open First Rail Link with Eye on Trade

TEHRAN, Iran (AP) — The leaders of Iran and Afghanistan on Thursday inaugurated the first railway link between the two countries, expressing hope it would enhance trade links across the region. The 140-kilometer (90-mile) line running from eastern Iran into western Afghanistan will eventually be expanded by 85 kilometers to reach the Afghan city of …read more →

AFRICAReports Infrastructure News & Reports Railway Roads Transportation

We’ll Complete Lagos-Badagry Expressway, Sanwo-Olu Assures

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Friday assured Nigerians that the State Government would complete the ongoing construction of the Lagos-Badagry Expressway. He said his government is committed to the construction of the Lagos-Badagry Expressway, adding that the delay of work on the road was based on the government’s plan to build a first-class …read more →

Infrastructure Infrastructure Financing Railway WORLDReport

European Commission Commits €54 Million for Sustainable Transport Infrastructure

The European Commission has announced €54 million in funding for sustainable and safe transport infrastructure in Europe. Five projects have been selected to receive funds under the Connecting Europe Facility’s (CEF) Transport Blending Facility rolling call, an instrument that is used to mix EU and private financing. Dirk Becker, Director of the Innovation and Networks Executive Agency (INEA) …read more →

Infrastructure Railway

Lagos-Ibadan Standard Gauge Rail Ready by December

The Lagos-Ibadan Standard Guage Rail line should be ready by December, considering the progress of works on the construction of rail stations by the contractor. Rotimi Amaechi, Minister of Transportation has said. Amaechi gave the assurance while briefing newsmen in Ibadan, Oyo State capital, at the end of his monthly routine inspection tour of the …read more →