Nigeria: FG, CCECC Sign U.S.$1.5 Billion Lagos/Ibadan Rail Project

29 August 2012

Abuja — FEDERAL Government, yesterday, signed a Memorandum of Understanding of $ 1.5billion Lagos - Ibadan rail project with Messrs CCECC Nigeria Limited.

The Federal Executive Council had on July 2012 approved Lagos - Ibadan Standard Gauge Track on double formation, covering a distance of 156.65km, totaling 313.30km double track in favour of the company, in the sum of US$1, 487, 782, 196.00, all taxes inclusive.

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