Railway

Lagos blue rail project gets CBN N60bn support (with photos)

Published

3 years ago

October 15, 2021

Train to run every three minutes at peak period – LAMATA

The Central Bank of Nigeria says it has offered N60bn support through three commercial banks for a railway project being executed by the Lagos State Government.

The funds are being released specifically for the Lagos Blue (rail) Line, running between Marina and Okokomaiko, which is one of the seven mass transit rail projects being developed by the Lagos Metropolitan Area Transport Authority (LAMATA).

Director of Development and Finance at the CBN, Mr Phillip Yusuf, disclosed this on Thursday during an inspection of the project at Marina, Lagos.

Already, he said N45bn had been disbursed, adding that the last tranche of the funds would be released soon.

According to him, this is one of the projects the apex bank and some deposit money banks are supporting under its N1 trillion DCR Intervention, which is part of their response to the COVID-19 pandemic to businesses and projects affecting the people.

He named the banks involved as Access Bank Plc, Sterling Bank Plc and Fidelity Bank Plc.

“The total amount that we have made available for this line is N60 billion. We have disbursed N45 billion; there is another tranche of N15 billion due.

“So, we can see the progress made with the disbursement that had been made so far. This is just one of the many projects under its DCR Intervention.”

Yusuf expressed satisfaction with work done and the solid structure being put in place by the contractor.

He said, “I am quite impressed with what I see on the ground. LAMATA had taken us around and we can see the solid structure that is being put in place in Marina.

“The quality of work is quite impressive and they have shown us all the work done so far. Luckily, I am an engineer; I can appreciate the amount of work being done.

“Most importantly, I see young Nigerians welding, fabricating and there are over 500 jobs on site. For me, that is a very good take away.”

The Managing Director, LAMATA, Mrs Abimbola Akinajo, said, “The vision of the state is to ensure that this project will be operational in the first quarter of 2022, as we are on track.

“One of the major things in every project is funding, and with the support we have from the CBN and three other banks – Sterling, Fidelity and Access, we will ensure we meet our goal and target.”
She said that LAMATA was at present constructing the first operational phase of the Blue Line, adding that five stations at Mile 2, Alaba, Iganmu, National Theatre and the Marina would be constructed within the axis.

She said that the Marina station would actually serve as the hub in Lagos State because both the Blue and Red lines would terminate at the place and the Green Line which would come from Lekki would also terminate at the Marina station.

Akinajo said that the Marina station would serve as an interchange because every form of transportation would be catered for there.

She called for the stakeholders’ collaboration on the project to enable the state government to achieve its aim, stressing that three sets of coaches would commence on the line in 2022.

She said that each of the coaches would carry not less than 1,000 passengers, adding that the signalling system in place would allow the movement of train every three minutes during peak hours.

The line is expected to run on the surface in the central reservation of the Lagos-Badagry Expressway between Igbo-Elerin Road (Okokomaiko) and Iganmu. It will then be elevated from Iganmu along the south side of the expressway passing the junction with Eric Moore Road, crossing just south of the National Theatre to Iddo, then south to Lagos Island with a terminal at Marina.

Related Topics:CBN Featured Lagos Blue Rail LAMATA

Up Next

NRC to cut Abuja-Kaduna trips for maintenance work

Don't Miss

Concession of railway services coming soon – NRC MD

Railway

NRC increases trips on Abuja-Kaduna route from four to six

Published

14 hours ago

November 14, 2024

Trends Admin

NRC increases trips on Abuja-Kaduna route from four to six

The Nigerian Railway Corporation (NRC) has announced an increase in the number of trains on its Abuja-Kaduna Train Service (AKTS) route in response to rising demand based on its customer feedback.

A statement signed by the NRC Deputy Director of Public Relations, Yakub Mahmood, on Wednesday, said the number of trains had been increased to six from four, running Monday to Friday during peak periods.

This development, it added, aimed to enhance customer satisfaction by making commuting more convenient and accessible on the route as well as tackling complaints of ticket racketeering.

The statement quoted the acting Managing Director of the NRC, Ben Iloanusi, as saying that a five-month trend analysis revealed a 22 per cent increase in new passengers registering on the ticketing platform for the Abuja-Kaduna route.

The surge, he said, showed a growing preference among Nigerians for train travel as a comfortable, reliable, and safe commuting option.

The statement read, “The Nigerian Railway Corporation, reaffirming its commitment to responding to customer demands, improving customer satisfaction, and tackling complaints of ticket racketeering, has increased the number of train services from four to six from Monday to Friday when demand tends to peak on its AKTS route.”

The NRC also noted that similar trends had been observed on the Lagos-Ibadan, Warri-Itakpe, and Port Harcourt-Aba routes, with efforts already underway to enhance services along these routes as well.

The acting MD assured Nigerians of the increased presence of NRC senior management across all train service routes to drive continuous efficiency and tackle the issue of ticket racketeering head-on.

“Our valued customers are encouraged to use NRC ticket platforms online to take advantage of the increased services and avoid patronising ticket racketeers.

“Additional information can be obtained from the NRC website, www.nrc.gov.ng,” it stated.

The expanded services on the Abuja-Kaduna route, it said, followed similar enhancements on the Lagos-Ibadan route, which now includes additional trips on Fridays and Saturdays to accommodate increasing demand.

Railway

Nigerian railway adds extra train to Friday, Saturday trips on Lagos-Ibadan route

Published

2 days ago

November 12, 2024

Trends Admin

Nigerian railway adds extra train to Friday, Saturday trips on Lagos-Ibadan route

The Nigerian Railway Corporation (NRC) has announced the introduction of additional train trips on its Lagos-Ibadan Train Service (LITS) route, exclusively for Fridays and Saturdays.

This initiative increases weekend trips from two to three, offering commuters greater travel flexibility.

The announcement, made via the NRC’s official X (formerly Twitter) handle on Tuesday, revealed that the new Lagos-to-Ibadan trip will depart at 1:40 pm, complementing the existing schedules of 7:45 am and 4:00 pm.

For the Ibadan-to-Lagos route, the additional trip is set for 10:50 am, joining the regular departures at 8:00 am and 4:30 pm.

Nigerian railway adds extra train to Friday, Saturday trips on Lagos-Ibadan route

Railway

Nigeria gets $350m AfDB facility for Kano-Maradi rail project

Published

2 weeks ago

October 28, 2024

Trends Admin

Nigeria gets $350m AfDB facility for Kano-Maradi rail project

The Federal Government of Nigeria has secured $350 million from the African Development Bank (AfDB) to fund the construction of the Kano-Maradi rail project, which will connect Kano to Maradi in Niger Republic.

The Chairman of the Senate Committee on Land Transport, Senator Adamu Aliero, made this disclosure on Monday during an oversight visit to the Nigeria Railway Corporation (NRC) headquarters in Lagos, as reported by the News Agency of Nigeria (NAN).

Aliero stated that the Kano-Maradi rail project is part of the government’s broader efforts to modernize Nigeria’s railway network and enhance regional trade links.