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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 →

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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 →

AVIATION News & Reports Transportation

Commencement of Operations: Sirika Sets New Deadline for Air Nigeria

Nigeria’s new national carrier will commence operations within the first three months of 2022, the minister of Aviation, Hadi Sirika has said. Sirika, who spoke to journalists at the State House after the end of the weekly meeting of the Federal Executive Council (FEC), said the national carrier will run in partnership with the private …read more →

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Tesla Battery Supplier Catl Says New Design Has One Million-Mile Lifespan

A Chinese car battery-maker says it is ready to manufacture a product capable of powering a vehicle for 1.2 million miles (two million kilometres) across the course of a 16-year lifespan. By contrast, most automakers only offer warranties ranging from 60,000 to 150,000 miles over a three to eight-year period on their cars’ batteries. Contemporary …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 →

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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 →

News & Reports Transportation

EndSARS Violent Protest: BRT Operators Count Losses

Operators of the Bus Rapid Transit (BRT) in Lagos have begun counting the losses incurred by the two-week suspension of operations occasioned by the violence that trailed the recent #EndSARS protests across the country. The Head of Corporate Communications of the organisation, Mr Mutiu Yekeen, stated this in an interview with the News Agency of …read more →

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China Unveils Plan for New Energy Vehicle Industry

China on Monday unveiled a development plan for its new energy vehicle (NEV) industry from 2021 to 2035 that aims to accelerate the country into an automotive powerhouse. The plan, released by the State Council, China’s cabinet, listed five strategic tasks to improve technology innovation capacity. The council intends to build new-type industry ecosystems, advance …read more →