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2 Billion Dollars Needed To Revive Lagos To Kano Rail Line – VP Osinbajo Says

Nigeria’s Vice President, Professor Yemi Osinbajo on Wednesday said at least $2billion would be required to revive the Lagos-Kano Rail L...

Nigeria’s Vice President, Professor Yemi Osinbajo on Wednesday said at least $2billion would be required to revive the Lagos-Kano Rail Line as part of efforts to boost local and international trade along the Northern and Southern zones.
Eyes Of Lagos gathered that, Osinbajo, who spoke at the opening of the inaugural edition of the Lagos-Kano Economic and Investment Summit held at the Jubilee Chalets in Epe, Lagos, said the Federal Government in partnership with a private firm, General Electric (GE) is already proposing to invest in the project to enhance the movement of cargo from Apapa ports to Kano via the rail line.
Commending the Lagos and Kano State Governors for creating a platform to collaborate for economic growth, Osinbajo expressed optimism that such initiatives would open up the investment opportunities that abound in both States to would-be investors both locally and internationally.
“I believe that Lagos and Kano States have by this collaboration underscored the cornerstone of the Federal Government’s economic recovery and growth plan, namely the leveraging of synergies among States and between  government and the private sector.
“The strategic role of the federal government is of course to create an enabling environment for commerce beginning with the provision of infrastructure.
“For us, what this meant especially in the context of Lagos and Kano collaboration is the refurbishing of the narrow gauge Lagos to Kano Rail with a concession to General Electric who are proposing to invest almost $2billion to ensure that the rail route is effective for movement of cargo from Apapa port to Kano.
“Similarly, we are investing in the Lagos to Kano standard gauge line, the Lagos Ibadan portion of that is expected to be ready by the end of this year. Also, we have budgeted N80billion for the development of special economic zones in the six geo-political zones of the country,” Osinbajo said.

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SAIBLOG: 2 Billion Dollars Needed To Revive Lagos To Kano Rail Line – VP Osinbajo Says
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