Lagos Blue Line Phase 2 Project Gets Green Light From Financiers, Afreximbank And Access Bank

Second phase of Lagos Blue Line gets green light from financiers, African Export Import Bank (Afreximbank) and Access Bank.

Paperwork for the project are being finalized and may be signed by the parties in the coming weeks, according to LAMATA.

Blue Line Phase two, which spans 14-km from Mile 2 to Okokomaiko, is expected to significantly improve transportation in Lagos.

On completion, the Lagos Blue Line is expected to move more than 450,000 passengers daily.

Financing for the second phase of the Lagos Rail Mass Transit (LRMT) Blue Line has received the nod after financiers, African Export Import Bank (Afreximbank) and Access Bank, jointly visited the project site to evaluate its potential.

During a tour of the project, Afreximbank’s Abuja Regional Chief Operating officer, Mr. Eric Intong and his Access Bank counterpart Mr. Lookman Martins, both expressed their satisfaction with the plan for the project.

The delegation was joined by the Commissioner for Finance, Mr. Yemi Oluyemi, Commissioner for Transportation, Hon. Oluwaseun Osiyemi, Permanent secretary Debt Monitoring Office, Mrs. Sanusi Alake and Director of Rail Transport, Engr. Olasukanmi Okusaga.

Paperwork for the project are being finalized and may be signed by the parties in the coming weeks, according to a statement by the Lagos Metropolitan Area Transport Authority (LAMATA).

It will be recalled that the Lagos State Governor, Mr. Babajide Sanwo-Olu signed the contract for the second phase of the rail line during its launch performed by former President, Muhammadu Buhari on 24th January 2023.

The Blue Line Phase two, which spans 14 kilometres from Mile 2 to Okokomaiko, is expected to significantly improve transportation in Lagos. It will provide a faster and more convenient way for residents to travel from the Island to the mainland and vice versa. On completion, the Blue Line is expected to move more than 450,000 passengers daily.

See Also : LASG In Talks With Ogun To Extend Blue Line To Agbara As Phase 2 Project Progresses

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : AutoJosh – https://autojosh.com/lagos-blue-line-phase-2-project-gets-green-light-from-financiers-afreximbank-and-access-bank/