The Central Bank of Nigeria (CBN), on Thursday, said that it had supported the Lagos State Blue railway line project with N60 billion to facilitate ease of business and passengers’ movements in the state.
The Director, Development and Finance of the CBN, Mr Phillip Yusuf, disclosed during an inspection of the project, held in collaboration with the Lagos Metropolitan Area Transport Authority (LAMATA) at the Marina, Lagos.
According to him, this is one of the projects the apex bank and some deposit money banks are supporting under its N1trillion DCR Intervention.
“The total amount that we have made available for this line is N60billion, we had disbursed N45 billion, there is another tranche of N15 billion due.
“So, we can see the progress matches the disbursement that had been made so far. This is just one of the many projects under its Displaced Commercial Risk (DCR) Intervention,” he said.
Yusuf expressed satisfaction over work done and the solid structure being put in place by the contractor.
“I am quite impressed with what I see on ground, LAMATA had taken us around and we can see the solid structure that is being put in place in Marina. I am confident based on our observations.
“The quality of work is quite impressive and they had 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, and for me, that is a very good takeaway,” he said.
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 which is last the quarter of 2022,” Akinajo said.
Furthermore, 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 their 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: BRT, regular busses, ferry, and others.
She, therefore, sought 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 a thousand passengers, saying the signaling system in place, would allow the movement of the train every three minutes during peak hours.
YOU SHOULD NOT MISS THESE HEADLINES FROM RULERS’ WORLD
“We had some really good, quality time there,” Jeff Bezos said of travelling outside of Earth with his brother Mark.
Makinde reappoints, swears-in seven Commissioners in Oyo
Oyo State Governor, Engr Seyi Makinde, has on Friday reappointed and sworn in seven commissioners in the state.
SHOCKER: World Athletics Body sends 10 Nigeria athletes out of Olympics
As huge a number as 10 Nigerian Track and Field athletes have been sent packing from the Tokyo 2020 Olympics for not meeting the testing conditions of the Athletics Integrity Unit of the sport.
Pomp and ceremony as Iloko-Ijesa gets new Monarch
Iloko-Ijesa, a rustic town in Oriade Local Government Area of Osun State, came alive Saturday, 24 July 2021, as dignitaries in Nigeria and the Diaspora stormed the town to witness the coronation and presentation of staff and instruments of office to Oba Akeem Olusayo Ogungbangbe, Ajagbusi-Ekun VI, the new Owaloko of Iloko-Ijesa Kingdom.
Nigerians in Asia seek FG’s probe of maltreatment, harassment of citizens
A group, Stakeholders of Nigerians in Asia has called on President, Muhammadu Buhari to investigate the alleged continue maltreatment, inhuman and xenophobic attacks on Nigerians across the Asia continent.
Seven die of cholera outbreak in Enugu
No fewer than seven persons have died from a cholera outbreak at the new Artisan Market in Enugu metropolis, Enugu State.
