The Nation

 

Nigerian Minister for Transport, Rotimi Amaechi.

The Minister of Transportation,  Rotimi Amaechi yesterday said work has commenced on the $1.5 billion Lagos-Ibadan rail line.

He spoke of an interactive Government Meets Business Forum on Transport and Logistics with: Transportation: The Vehicle of Growth, as the theme in Lagos.

“The counterpart funding is ready but don’t forget that we are borrowing the money from China. The China Exim Bank is processing it. Our 15 per cent is ready. So, we are waiting for China Exim Bank. They have managed to approve $1.5 billion for the Lagos-Ibadan line.

 

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He said the government is making efforts to complete all outstanding rail projects in due time to give relief to congestion of the roads from cargo and human traffic.Other projects, he assured will be completed include Southeast rail which he indicated will be addressed as the government raise funds.

According to him, the government is set to complete concession of the rail lines to allow the private sector to invest in the transport system. The forum was organised by Institute of Directors (IoD) Nigeria.