Federal Government of Nigeria Signs $1.49 bln Railway Deal With China

The Federal government of Nigeria confirmed on Wednesday it had signed a $1.49 billion contract with state-owned China Civil Engineering Construction Corp (CCECC) to build a railway between the commercial capital Lagos and Ibadan.

Lagos, the heartbeat of Africa’s second largest economy, is around 130 km south of Ibadan, Nigeria’s third largest city and a transit point between the coast and the north.

“(Cabinet) today approved the award of the Lagos-Ibadan standard gauge railway double track contract to CCECC in the sum of $1.487 billion … with a completion period of 36 months,” Minister of Transport Idris Umar told reporters.

Umar gave no details on where the funds would be found to pay for the project.

Nigeria’s Ogun state, which borders Lagos state, awarded CCECC an $8.4 million road contract earlier this year.

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