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No New Funds Needed For Lagos-Ibadan Rail Project Completion, Says Amaechi

The Minister of Transportation, Hon. Chibuike Rotimi Amaechi, Monday described reports that his ministry was seeking over $650 million loan to complete ongoing expansion works on the Warri-Itakpe and the Lagos-Ibadan rail lines as untrue, noting that the funds sought for the projects have long been secured..

Speaking to journalists on the while inspecting the project at Omi-Adio station in Ibadan, the minister said: “I read somewhere that we are looking for additional $650 million for the expansion works on the Lagos-Ibadan and Itakpe-Warri corridors, this is not true.

“We said we would be needing $1.6 billion and that was long ago. The money has since been approved. It is not as if we are looking for additional funds for this projects. It is important that I clarify that.”
While lamenting the slow pace of work at the Agege sub-station, he expressed concern at what he described as the slow pace of work, reminding officials of the China Civil Engineering Construction Company, CCECC, that he would return on December 20 to ascertain the level of work done.
He frowned on CCECC and the American consultant firm, TEAM’so slow pace of work on the ongoing Lagos-Ibadan axis of the projects

To this end, he reiterated that the January 2021 completion deadline remains sacrosanct, adding that, the federal government will not compromise on the project commissioning.
Amaechi urged the contractors to engage more hands in order to ensure the completion of the project and deliver it for the use of the public as soon as possible.

He pointed out that due to the slow pace of work on the Lagos-Ibadan axis, there won’t be more contract work on any rail project without comprehensive plans by the contractors.

“On all other projects, including Ibadan-Kano and due to the slow pace of work on the Lagos -Ibadan, we have said that we will not commence work on any other contract until we have a comprehensive programme of work so that we see when you start, when you finish and the facilities that you need,” Amaechi said.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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