CBN sets aside N60bn for Lagos rail project, disburses N45bn –


*Commences operation in Q4’22

By Theodore Opara & Elizabeth Adegbesan

The Central Bank of Nigeria, CBN, said it has set aside N60 billion intervention fund to execute the Lagos State  Blue Rail Line  project, out of which N45 billion has already been disbursed.

Director, Development Finance, CBN, Yussuf Phillip, disclosed this yesterday, at the inspection of the Blue Rail Line Project in Marina, Lagos, adding that another tranche of N15 billion is due for disbursement for the 27 kilometers rail  project which runs from Okokmaiko to Marina.

He stated:    “CBN through some banks (Access Bank, Sterling Bank and Fidelity Bank) have provided funding under this intervention to ensure that Lagos State has the right funding for this project.

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“The total amount that we have made available for these lines is N60 billion.

“We have disbursed N45 billion. There is another tranche of N15 billion too. So we can…

Source: Vanguard Newspaper

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