By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: FG Releases N72bn for Construction of Lagos-Ibadan Railway Project
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

FG Releases N72bn for Construction of Lagos-Ibadan Railway Project

Farouk Mohammed
By Farouk Mohammed
Published: January 23, 2017
Share
2 Min Read
SHARE

The Minister of Transportation, Rotimi Amaechi, on Monday disclosed that the Federal Government has released its counterpart fund for the construction of the Lagos-Ibadan mordernisation railway project.

He put the figure at N72bn.

The minister made the disclosure at the Second Presidential Business Forum which was presided over by Vice-President Yemi Osinbajo at the old Banquet Hall of the Presidential Villa, Abuja.

- Advertisement -

He said the counterpart funding was released in full so that there will be no delay in the project implementation.

He also used the opportunity to appeal to the National Assembly to approve the $30bn foreign loan request.

He said, “The construction of Lagos-Ibadan Railway, the Minister of Finance has been kind enough to release the counterpart funding in full.

“I think in the history of Nigeria this is first time that we are releasing counterpart funds in full so that there will be no delay since the Chinese loan appears to have been approved.

- Advertisement -

“The only thing we need to do, I thank God there is somebody from the National Assembly, is to plead with the National Assembly that the funds has been approved, then the National Assembly should please approve the $30bn loan.

“If you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want the economy to make.

“So, for me here, I will enjoin to persuade the National Assembly to kindly make that approval because they are tied to projects.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FGLagos-Ibadan Railway
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article LAUTECH Receives N500 Million to Pay Salaries
Next Article Gov. Ajimobi Signs Bill to Prohibit Violence Against Women

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,560.00
GBP
Buy₦2,130.00
Sell₦2,170.00
EUR
Buy₦1,750.00
Sell₦1,790.00

Updated: 22 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tensions Mount in Senate as Senator Natasha Set to Make Controversial Return
News
ADC Accuses Presidency of Undermining Opposition Amidst Coalition Turmoil
Politics Top stories
Flood Devastation in Ondo Communities Sparks Urgent Calls for Government Intervention
News
Security and Electoral Bodies Confirm Full Preparedness for Upcoming Anambra Elections
News
Ruth Kadiri
Ruth Kadiri Reveals Why She Keeps Her Marriage Private
Celebrities
- Advertisement -
Ad imageAd image

You May Also Like

International

Trump Rages at Elon Musk’s ‘America Party’, Calls Move a “Train Wreck”

Damilola A.
Damilola A.
July 7, 2025
NewsSecurity

Anambra Police Intensify Crackdown on Cult Activities Amid Security Concerns

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 7, 2025

Babiana Trending Video: What You Should Know

Okay.ng
Okay.ng
July 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?