Business

Ibadan-Kaduna rail project to gulp $6.7bn

The federal government has approved $6.7bn for the construction of Ibadan-Kaduna standard gauge railway. Rotimi Amaechi, minister of transportation, said the project was part of the Ibadan to Kano railway project.  He made this known on Wednesday after the federal executive council (FEC) meeting.

Amaechi said the government also awarded a spur linking Ado-Ekiti with Osogbo.“The council approved the award of a new contract from Ibadan to Kaduna. You know earlier the council had awarded from Kaduna to Kano‎. So, the entire Ibadan to Kano as a stretch has been awarded,” he said.

“What was awarded today was Ibadan to Kaduna at the cost of $6.7 billion. This is an old contract that was awarded in 2006.” Muhammed Bello, minister of the Federal Capital Territory (FCT), also said two contracts were approved for the FCT. He said N273 million was approved for the supply of chemicals for the FCT Water Board for purification of water in the state. Bello also said N1.9 billion was also approved for the reconstruction of Bill Clinton Drive along the Umar Yar’adua Expressway.(Cable)