President Muhammadu Buhari is seeking approval from the National Assembly for a proposal to borrow $5.85bn from China to modernise the country’s rail network.
Continue reading »FG SEEKS $5.85BN FROM CHINA FOR RAILWAY PROJECTS
Tag: Lagos-Calabar Rail
FED GOVT, CHINA TO FINALISE $11BN LAGOS-CALABAR RAIL DEAL IN JUNE
The acting President, Yemi Osinbajo, on Tuesday said the federal government and the People’s Republic of China would round off negotiations on the Lagos-Calabar rail project estimated at $11.117 billion in June. Osinbajo also disclosed that the federal government had already provided its portion for funding the rail project and promised that the negation would be concluded in the next […]
Continue reading »FG, CCECC SIGN $11.117 BILLION LAGOS-CALABAR RAIL CONTRACT
The Federal Government few days ago signed an agreement with the China Civil Engineering Construction Company (CCECC) for the construction of the Lagos-Calabar coastal railway line at $11.117billion Minister of Transportation, Rotimi Chibuike Amaechi said the first segment of the rail line, which comprises Calabar, Uyo, Aba and Port-Harcourt will be ready within two years.
Continue reading »