The Minister of Transportation, Mr. Rotimi Amaechi, on Monday stated that the Federal Government had released N72bn as its counterpart funds for the construction of the Lagos-Ibadan standard gauge railway line.








The minister said this at the Second Presidential Business Forum, which was presided over by Vice President Yemi Osinbajo at the old Banquet Hall of the Presidential Villa, Abuja.








He said the money was released in full so that there would be no delay in the implementation of the project.

Amaechi also used the opportunity to appeal to the National Assembly to approve the $29.9bn foreign loan request made by President Muhammadu Buhari.

He said, “On the construction of Lagos-Ibadan railway line, the Minister of Finance has been kind enough to release the counterpart funding in full. I think in the history of Nigeria, this is the first time that we are releasing counterpart funds in full so that there will be no delay since the Chinese loan appears to have been approved.

“The only thing we need to do, I thank God there is somebody from the National Assembly here, is to plead with the National Assembly now that the funds have been approved; then, the National Assembly should please approve the $29.9bn loan.

“If you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want it to make. So, for me here, I will persuade the National Assembly to kindly make that approval because it is tied to projects.”


http://punchng.com/fg-releases-n72bn-lagos-ibadan-rail-line/

Hope they use the money for what it is meant for!

Meanwhile they are still searching for money for projects in the east though they insisted that most should be PPP.. , essentially, whosoever dares to build in the east will go and recover his or her money by tolling the roads. It is still one Nigeria, right?

Embezzlement money don land

Good news though. But based on experience, I won't jump up yet

Formerly i for jump with joy but recently the reality is painful

Koleman:
Formerly i for jump with joy but recently the reality is painful

olaolaking:
Good news though. But based on experience, I won't jump up yet

make that fg releases 36 billion for half construction
and 36 for some 5-10 people pocket



at the 2 posters above me

God bless you guys for the sense in ya comments

How many times will this road be budgeted for?

Oma307:
Embezzlement money don land

Koleman:
Formerly i for jump with joy but recently the reality is painful

The money was released to the Chinese who will then add their counterpart funds to it once the National assembly approves the loan request. The money cannot be accessed by any government officials so, no embezzlement can take place.

funlord:


How many times will this road be budgeted for?

Lagos-Ibadan standard gauge railway line is different from Lagos-Ibadan expressway. Read well before commenting next time.

seunmsg:


Lagos-Ibadan standard gauge railway line is different from Lagos-Ibadan expressway. Read well before commenting next time.

An error on my part in posting Road or rail does not negate the point I have raised?

Even the rail has been budgeted for in the past times without number with nothing to show for it!

Thank you Mr president

God bless my president

God bless federal republic of Nigeria

funlord:




An error on my part in posting Road or rail does not negate the point I have raised?

Even the rail has been budgeted for in the past times without number with nothing to show for it!

Now we have a faithful servant at the helms of affairs

God bless muhammadu Buhari

God bless federal republic of Nigeria

funlord:




An error on my part in posting Road or rail does not negate the point I have raised?

Even the rail has been budgeted for in the past times without number with nothing to show for it!

Maybe it was budgeted for during the GEJ/PDP era and nothing was done about it. Under Buhari, it was only budgeted for in the current 2016 budget and true to promise, the full amount had been released to the Chinese contractors.

This will boost rural-urban, urban-rural migration.. You can now work in Lagos then live, sleep and relax at Ibadan and ogun

funlord:




An error on my part in posting Road or rail does not negate the point I have raised?

Even the rail has been budgeted for in the past times without number with nothing to show for it!

When a kid is proving to be immume to correction..

It's only in Africa you can't jubilate after hearing news like this. May God help us in this continent.

We will jubilate when the project is completed

Doing that from London I guess

I dont like "Amaechi" and "rail" in the same sentence, it brings back sad memories

Hood it would b done.

Not probe in the next 4years

This is a nice development. The pressure on the Lagos - Ibadan expressway will be greatly reduced. God bless Nigeria.

Let it be released for real and not just on pages of newspapers

Contact us for all your roofing jobs and roof maintenance

funlord:


How many times will this road be budgeted for?

Rail ode oshi

Just hope the money is used judiciously. And a standard work that would stand d taste of time should be done.

owopokiri:
Meanwhile they are still searching for money for projects in the east though they insisted that most should be PPP.. , essentially, whosoever dares to build in the east will go and recover his or her money by tolling the roads. It is still one Nigeria, right?

U don't have to make a mockery of your self all the time

funlord:


How many times will this road be budgeted for?

Which road!

Nice development

Lala or whoever moved this post to FP, kindly explain why disciplinary actions should not be taken against you as you have intentionally, maliciously and apparently deleted initial posts before moving the thread to FP.

Thanks