Buhari pays N72b to China for Lagos-Ibadan railway

President Muhammadu Buhari led Federal Government has released N72 billion counterpart funding for the construction of Lagos-Ibadan modernisation railway project.

The Minister of Transportation, Mr Rotimi Amaechi made this known at the quarterly Presidential Business Forum which was presided over by Vice-President Yemi Osinbajo at the Presidential Banquet Hall, Abuja, on Monday.

The News Agency of Nigeria (NAN) reports that the Lagos-Ibadan rail project which was awarded to China Civil Engineering Construction Corporation would cost about 1.5 billion dollars (N458bn).

Amaechi, who commended the Minister of Finance, Mrs Kemi Adeosun for ensuring full release of the counterpart funds for the project, enjoined the National Assembly to ensure speedy approval of the 30 billion dollars foreign loans for various project.

NAN

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Buhari pays N72b to China for Lagos-Ibadan railway

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