FG Dumps N16 Trillion Railway Projects For N2.6trn Lagos-calabar Coastal Road

by

FG Dumps N16 Trillion Railway Projects For N2.6trn Lagos-calabar Coastal Road

Investigations by the Nigerian Tribune have revealed that the N2.6 trillion Lagos-Calabar Coastal road may lead to the abandonment of about N16 trillion railway projects which were incorporated in the 25-year railway roadmap unveiled during the administration of former president, Olusegun Obasanjo, and which will expire next year, 2025.

The projects include the Ibadan-Kano Standard Gauge Railway ($5.3 billion); $11.17 billion Lagos-Calabar coastal railway project; the $3.02 billion rehabilitation project for the Eastern Line (Port Harcourt-Maiduguri) and the $1.9 billion Kano-Maradi Railway project.

Checks by the Nigerian Tribune revealed that approval of the N2.6 trillion Lagos-Calabar Coastal road by the Federal Government ought to have come after the completion of the $11.17 billion Lagos-Calabar Coastal railway.

Speaking with the Nigerian Tribune, a source close to the Nigerian Railway Corporation (NRC) lamented that the body language of the President Bola Tinubu administration has shown that there is no room for fresh railway project development.

According to the source, “Before now, what we keep hearing is that there is no funds, but suddenly there is a whole N2.6 trillion for a road that links Lagos to Calabar. It is shocking.

Related posts:

  1. Robbers K!ll Governor’s Office Accountant After Withdrawing Money From Bank
  2. The biggest mistake Buhari made as President, why he failed – Ndume
  3. MC Oluomo secures second term as NURTW Lagos Chairman
  4. Islamic Group, MURIC Asks Lagos State Government To Stop Luring Muslim Students
  5. TANTITA SECURITY SERVICES ISSUES STERN WARNING TO CHIEFS AND COMMUNITY LEADERS INVOLVED IN AND SHIELDING OIL THIEVES
  6. Revealed: Ogun Govt Loses N112.335m To Bullion Van Attack
  7. RIVERS STATE LIAISON OFFICERS THROW SUPPORT FOR GOVERNOR SIM FUBARA.
  8. Ogun Gov Visits Family Of Slain Director of Finance, Promises Justice
  9. Subsidy Removal: FG records over N1tn monthly revenue inflow – Minister
  10. Abiodun Woos Foreign Investors, Says Ogun Is Investment Friendly
  11. Money Laundering: N1.2bn Was Airlifted To Ekiti For Fayose, Obanikoro Tells Court
  12. Local Refinery: Meet Your December Deadline – Afenifere Charges Tinubu
  13. Obi Faults Demolitions, Says Timing Wrong
  14. Tinubu Meets UAE President To Strengthen Countries’ Partnership
  15. Northern Senators Begs Tinubu To Restore Electricity To Niger Republic
  16. New Wage Begins April, 2024 – FG
  17. UPDATED: Emefiele Refunds N4tr, Lemo $500m, $275m & N1.5tr Found with Buhari’s PA
  18. Electricity Subsidy: President Tinubu Sensitive to Plight of Masses — APC Chieftain
  19. Nigeria Signs Agreement With Siemens To Increase Grid Capacity To 12,000MW
  20. Tinubu To Appoint New Minister As INEC Presents Certificate Of Return To Plateau South Senator-Elect Lalong
See also  Peter Obi Donates N5 Million to Charity in Port Harcourt

Leave a comment