SpyLoaded Forum






News



Post reply

Note: this post will not display until it's been approved by a moderator.

Name:
Email:
Subject:
Message icon:
Verification:
"5 eggs" Multiply By "4 eggs" Is what ?:

shortcuts: hit alt+s to submit/post or alt+p to preview


Topic Summary

Posted by: Mr. Babatunde
« on: January 24, 2017, 12:17:57 AM »



The Federal Government has released N72 billion counterpart funding for the construction of Lagos-Ibadan modernisation railway project.

This revelation was brought to light by the Minister of Transportation, Mr Rotimi Amaechi at the quarterly Presidential Business Forum which was presided over by Vice-President Yemi Osinbajo at the Presidential Banquet Hall, Abuja, on Monday.

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.

    “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.”

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).
Crashed tanker fire razes shops, vehicles in Lagos

Started by Miss Ifeoluwa

 Replies: 0
Views: 3969
Photos from fire incident at Iyana-Ipaja, Lagos

Started by Mr. Babatunde

 Replies: 0
Views: 4444
Another tanker falls infront of filling station in Lagos

Started by Miss Ifeoluwa

 Replies: 0
Views: 3693
Photo: Desmond Elliot and wife head for his inauguration as member of the Lagos

Started by Yakub Oloyede

 Replies: 0
Views: 3601
Woman leads robbery attacks on Lagos banks

Started by Crown Mix

 Replies: 0
Views: 3023

* Recent Topics

Close
SimplePortal 2.3.6 © 2008-2014, SimplePortal