Lagos Blue Rail Line ready fourth quarter 2002

Lagos Blue Rail Line ready fourth quarter 2002
..As CBN injects N60b
… Sterling, Fidelity, Access listed among funding banks

The Lagos Blue line railway project which construction has been on since 2007 but was suspended in 2015 will be completed in fourth quarter of next year.
The Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Mrs Abimbola Akinajo has restated the vision to ensure that the project become operational in the fourth quarter of 2022.

This promise is coming as the Central Bank of Nigeria (CBN) confirmed that it had supported the Lagos State Blue railway line project with N60 billion to facilitate ease of businesses and passengers’ movements in the state.

The Director, Development and Finance of the CBN, Mr Phillip Yusuf said during an inspection of the project in collaboration with LAMATA at the Marina, Lagos that the project is one of those 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 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 round 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 take away,” he said.

The LAMATA said, “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”

She said that LAMATA was currently 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 there 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 buses, ferry and others.

She, therefore, sought stakeholders’ collaboration on the project to enable the state government 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 train every three minutes during peak hours.

Source:World stage