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Nairametrics
Home Business News

FG to begin construction of $1.2 billion Kaduna-Kano rail line on Thursday

Chike Olisah by Chike Olisah
July 13, 2021
in Business News, Spotlight
FG to begin construction of $1.2 billion Kaduna-Kano rail line on Thursday
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The Federal Government will on Thursday, July 15, 2021, flag off the construction of the $1.2 billion Kaduna-Kano standard gauge rail line in continuation of its effort to link the country through rail and improve on transport infrastructure.

This is the sequel to the announcement by the Minister of Transportation, Rotimi Amaechi, on June 2, 2021, that President Muhammadu Buhari will perform the groundbreaking ceremony for the rail line within the next 2 weeks.

This disclosure was contained in a statement issued by the Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, Permanent Secretary, Ministry of Transportation, disclosed this in a statement on Tuesday in Abuja, according to NAN.

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The statement by Eric Orjiekwe, Director, Press and Public Relations of the ministry said the event would be at Zawaciki Dawaki Local Government Areas, Kano at 10 a.m.

Ajani said that the project is expected to further boost the president‘s programme of linking the country through rail in order to enhance the economic growth of the Nation adding that major stakeholders in the transport sector have been invited for the occasion.

What you should know

  • The Federal Government had a few weeks ago revealed that the Kaduna-Kano rail line project would now be funded from the transportation ministry’s budgetary allocation as it would not continue to wait endlessly for the Chinese loan.
  • The Transportation Minister, Rotimi Amaechi, said the Federal Government has already paid $218 million to the contractors, with an additional $100 million expected to be paid to them, making it $318 million.
  • The project which is a continuation of the already completed Abuja-Kaduna rail line is part of 4 new rail projects which the Federal Government recently announced it was starting as part of its efforts to improve the transport infrastructure across the country.

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Tags: Kaduna-Kano rail linePresident Muhammadu BuhariRotimi Amaechi
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 1

  1. Abdulmumini isa alhaji says:
    July 13, 2021 at 4:34 pm

    Abdulmumini isa alhaji se my account number 6584873017 FCMB

    Reply

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