Nigeria awards a $6.68 billion rail contract to CCECC

Nigerian government awarded a $6.68 billion contract to China Civil Engineering Construction Corporation (CCECC) to construct a railway linking the economic capital Lagos (North-West) to Kano (North).  The information was reported yesterday May 15 by Xinhua which quoted official sources.

“The signing of the Ibadan-Kaduna segment agreement concludes all outstanding contract of the Lagos-Kano rail line,” Rotimi Amaechi, Nigerian transport ministry said, specifying that work is expected to last two or three years.

(Ecofin)

Nigeria seek Russia and India for USD 46 billion to finish railways

Global Construction Review reported that the government of Nigeria is seeking USD 46 billion from the Russian Exim Bank and investors in India to get three strategic railways completed. Transport minister Rotimi Amaechi revealed that Nigeria’s President Muhammadu Buhari had approved the sourcing of loans to finish three standard gauge lines: Lagos-Kano, Lagos-Calabar and Port Harcourt-Maiduguri.

For a number of years Nigeria has been in talks with China to build the USD 11 billion Lagos-Calabar railway.

Mr Amaechi said he had talked with investors from Russia and India to provide the funding. He said that “I was in India to look for money and there are people talking to me. I also had a meeting with Russian Exim Bank. Any of them that gives us money will be welcomed, because the Chinese are already funding the Lagos-Kano line. The president has given the clearance for talks with investors.”

(Global Construction Review)

LAGOS-IBADAN RAILWAY CONSTRUCTION GATHERS SPEED


The Federal Government is constructing a new Standard-Gauge Rail Line connecting Lagos to Ibadan, flagged off by VP Professor Osinbajo in 2017.

According to the Presidency’s release on Twitter on Sunday, the project is part of President “Buhari’s vision to ensure Nigeria is connected by fast & efficient rail.”

Road Construction: Lagos State Govt pays #11.85bn Compensation

Lagos State Lands Bureau on Tuesday said that over N11.85 billion has been approved as compensation for property and owners affected by the alignment and right of way for construction, reconstruction and dualisation of roads.

Special adviser to Gov. Ambode on Urban Development, Mrs Yetunde Onabule disclosed this to newsmen at the ministerial briefing to mark the governor’s third year in office earlier in the week.