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Infrastructure Bank To Fund N400bn Lagos Rail Project - Politics - Nairaland

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Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 6:11am On May 02, 2013
Vice Chairman, Infrastructure Bank, Mr Jonan Kruger, yesterday, disclosed that the Lagos light rail project from Marina, through Iddo to Agbado, would cost about N400 billion. The project, tagged 'Redline Light Rail Project', would be funded by the bank and managed by Marina Express Consortium, a consulting firm.

According to Kruger, the 'Redline' project would complement the on-going 'Blueline' rail project. He said the Redline project was designed to be funded by the private sector to ease transportation problems in Lagos. Kruger said the bank had entered into negotiation with the Lagos State government to ensure that the project was profitable.

"The Redline is one of the rail lines that Lagos has designed to solve the traffic problems in the state, " he said. Mr Adekunle Oyinloye, the Managing Director of the bank, said the Redline would take-off in Marina and join Iddo to meet the Nigerian Railway corridor up to Agbado. Oyinloye said that residents along Ikeja, Agege, Agbado and Ifo could be transported up to Agbado. He said issues relating to the rights of way had been resolved, adding that the state government did well to have approached the private sector to help it to fund the project.

The Infrastructure Bank, which was opened in 1992, was initially named Urban Development Bank. The bank was established to bankroll infrastructure development in Nigeria. Meanwhile, an engineer with Lagos Metropolitan Area Transport Authority (LAMATA) revealed that the first phase of the Lagos light rail project will be ready for commuters' use by the end of June, this year. The engineer, who preferred anonymity, said: "The work is in three phases.

Phase one is what we are doing presently, which is from the National Theater to Mile 2, and should be completed between June and July, this year, and then people will be able to make use of it." He explained that the two other phases would commence once the first phase has been completed "The second phase is from Mile 2 to Okokomaiko, which is to commence immediately after the completion of the first phase, at the end of which the third phase, which is from the National Theater to Marina, would commence.

I cannot speculate on the completion time for the entire project, but then I must tell you that it will be sooner than people think," he added. The engineer who said people should not worry about the locomotive seen along Mile 2 and Orile axis of the rail track , adding, Lagosians should not think that the project is being delayed since it will be delivered sooner than expected.

"There is no cause for alarm about that locomotive there. It is a light rail project that the people asked for and I can assure you, we cannot give something lees. And work is moving, there has never been a time when we stopped working and for the contractors, they are doing the best they could to ensure that the project is delivered for use as soon as possible. They work from 7:30 am to 6:00 pm. So people should stop thinking that the work is being delayed," he explained.

Source: http://odili.net/news/source/2013/may/1/500.html
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 9:43am On May 02, 2013
Very shameful indeed. 14yrs after ACN rule and 6yrs of emperor Fashola's reign they'r still looking for FUNDS to complete the Lagos light rail project. Very very shameful. What have they been doing since 1999? And to now imagine that the same project would have been completed in the 80s by Jakande (God bless him)?

Meanwhile, the GEJ they so much hate has achieved the following in the rail transport sector in just under 3yrs:

The Lagos-Kano rail has been COMPLETED and commissioned. The govt spent a whopping N24billion to rehabilitate and restore the Lagos-Kano narrow guage rail line after decades of dilapidation.
http://www.nanngronline.com/section/general/fg-spends-n243bn-on-rehabilitation-of-railway-track-md

The line has been operating since December last year and is always filled to the brim
https://www.nairaland.com/1226729/train-ride-lagos-kano-live

Other massive interventions in the rail sector include:

**Inter-city passenger train services have been introduced in Minna-Kaduna route, Kaduna-Kano route and Kano-Nguru route; while intra-city services are already operational in Lagos, Kaduna and Kano states.

The Minna-Kaduna route for instance generates about N500,000 per trip up from initial N14,000 per trip when train services started along that route about a year ago.
http://premiumtimesng.com/news/116884-nigeria-railway-generates-n500-000-per-trip-on-minna-kaduna-route.html

**Abuja-Kaduna fast rail line now at 50% completion.

**mass transit Abuja Light Rail system is expected to be completed in 2014

**The Itakpe-Ajaokuta-Warri rail line (fast line) was recently COMPLETED.

**Port-Harcourt-Enugu-Makurdi-Lafia-Jos-Gombe-Maiduguri rail-line is expected to be completed late 2013.
http://m.naij.com/news/17788.html
http://www.thisdaylive.com/articles/sambo-rehabilitation-of-4000km-rail-lines-in-advanced-stages/126761/
http://www.vanguardngr.com/2012/04/1000-commuters-move-by-train-to-ilorin/

While all these are happening the clueless Lagos gangs are still searching for N400billion from the private sector to complete the Lagos light rail project. Very very shameful

6 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by kunlekunle: 11:27am On May 02, 2013
Sincere 9gerian: Very shameful indeed. 14yrs after ACN rule and 6yrs of emperor Fashola's reign they'r still looking for FUNDS to complete the Lagos light rail project. Very very shameful. What have they been doing since 1999? And to now imagine that the same project would have been completed in the 80s by Jakande (God bless him)?

Meanwhile, the GEJ they so much hate has achieved the following in the rail transport sector in just under 3yrs:

The Lagos-Kano rail has been COMPLETED and commissioned. The govt spent a whopping N24billion to rehabilitate and restore the Lagos-Kano narrow guage rail line after decades of dilapidation.
http://www.nanngronline.com/section/general/fg-spends-n243bn-on-rehabilitation-of-railway-track-md

The line has been operating since December last year and is always filled to the brim
https://www.nairaland.com/1226729/train-ride-lagos-kano-live

Other massive interventions in the rail sector include:

**Inter-city passenger train services have been introduced in Minna-Kaduna route, Kaduna-Kano route and Kano-Nguru route; while intra-city services are already operational in Lagos, Kaduna and Kano states.

The Minna-Kaduna route for instance generates about N500,000 per trip up from initial N14,000 per trip when train services started along that route about a year ago.
http://premiumtimesng.com/news/116884-nigeria-railway-generates-n500-000-per-trip-on-minna-kaduna-route.html

**Abuja-Kaduna fast rail line now at 50% completion.

**mass transit Abuja Light Rail system is expected to be completed in 2014

**The Itakpe-Ajaokuta-Warri rail line (fast line) was recently COMPLETED.

**Port-Harcourt-Enugu-Makurdi-Lafia-Jos-Gombe-Maiduguri rail-line is expected to be completed late 2013.
http://m.naij.com/news/17788.html
http://www.thisdaylive.com/articles/sambo-rehabilitation-of-4000km-rail-lines-in-advanced-stages/126761/
http://www.vanguardngr.com/2012/04/1000-commuters-move-by-train-to-ilorin/

While all these are happening the clueless Lagos gangs are still searching for N400billion from the private sector to complete the Lagos light rail project. Very very shameful


youve never been a sincere nigerian.
rail projects are almost an ever growing and expanding project.
Hes sourcing funds for other line.
for your information, the sum of 4.3billion dollars would be reqd to connect the whole yorubaland and the fed govt can do the brigdes to the north and east.

8 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 3:21pm On May 02, 2013
Why are the vultures avoiding this thread? Where is the "Eko oni ba je" crew? They should tell us why their Lagos gods can still not complete Lagos railway project 14yrs after. Why are they still sourcing for N400billion 14yrs after? They seem to be clueless

4 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 4:10pm On May 02, 2013
I'm definitely not holding brief for the AD/ACN Lagos administrations of the past 14 years; but N400bn is a gargantuan sum of money which NO state govt in Nigeria can afford to splash on a single project. That amount is even bigger than d budgets of MOST states in Nigeria. Sometimes, it's necessary to solicit funds from the private sector to construct public infrastructure.
The proposed 4th mainland bridge (which will be 15 miles in length) will reportedly cost over $1bn, representing 25% of the state's annual budget. There is no way the LASG will commit such a huge sum of money to a single project too.

Nonetheless, I give the FG kudos for embarking on an aggressive railway modernization program, which I hope will be sustained and possibly improved upon by the introduction of either High-speed rail or 'Medium'-speed rail coaches. I'll suggest that the HSR should only be deployed in lucrative routes, such as Lagos-Onitsha, Enugu, Port Harcourt, Warri, Abuja, Kano etc.

10 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 5:40pm On May 02, 2013
CFCfan: I'm definitely not holding brief for the AD/ACN Lagos administrations of the past 14 years; but N400bn is a gargantuan sum of money which NO state govt in Nigeria can afford to splash on a single project. That amount is even bigger than d budgets of MOST states in Nigeria. Sometimes, it's necessary to solicit funds from the private sector to construct public infrastructure.
The proposed 4th mainland bridge (which will be 15 miles in length) will reportedly cost over $1bn, representing 25% of the state's annual budget. There is no way the LASG will commit such a huge sum of money to a single project too.

Nonetheless, I give the FG kudos for embarking on an aggressive railway modernization program, which I hope will be sustained and possibly improved upon by the introduction of either High-speed rail or 'Medium'-speed rail coaches. I'll suggest that the HSR should only be deployed in lucrative routes, such as Lagos-Onitsha, Enugu, Port Harcourt, Warri, Abuja, Kano etc.
The question is what have they been doing all this while? We'r talking of since 1999. No 4th mainland bridge. Unending railway project. No international Airport. No major completed project since 1999. Very shameful
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by OmoTier1(m): 5:53pm On May 02, 2013
CFCfan: I'm definitely not holding brief for the AD/ACN Lagos administrations of the past 14 years; but N400bn is a gargantuan sum of money which NO state govt in Nigeria can afford to splash on a single project. That amount is even bigger than d budgets of MOST states in Nigeria. Sometimes, it's necessary to solicit funds from the private sector to construct public infrastructure.
The proposed 4th mainland bridge (which will be 15 miles in length) will reportedly cost over $1bn, representing 25% of the state's annual budget. There is no way the LASG will commit such a huge sum of money to a single project too.

Nonetheless, I give the FG kudos for embarking on an aggressive railway modernization program, which I hope will be sustained and possibly improved upon by the introduction of either High-speed rail or 'Medium'-speed rail coaches. I'll suggest that the HSR should only be deployed in lucrative routes, such as Lagos-Onitsha, Enugu, Port Harcourt, Warri, Abuja, Kano etc.
Why bother reply a certificated e-diot He is falsehood personified, hence He had to convinced himself otherwise by naming Himself insincere9gerian.

You would be giving Him an honour not deserving by replying His posts on this matter. The truth remains, Lagos is setting the standard for others to follow.

20 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:04pm On May 02, 2013
Omo_Tier1:
Why bother reply a certificated e-diot He is falsehood personified, hence He had to convinced himself otherwise by naming Himself insincere9gerian.

You would be giving Him an honour not deserving by replying His posts on this matter. The truth remains, Lagos is setting the standard for others to follow.
14yrs after ACN clueless rule no 4th mainland bridge, unending railway project and no international Airport. No major completed project since 1999. Why? Very shameful

3 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:08pm On May 02, 2013

2 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:10pm On May 02, 2013
Omo_Tier1:
Why bother reply a certificated e-diot He is falsehood personified, hence He had to convinced himself otherwise by naming Himself insincere9gerian.

You would be giving Him an honour not deserving by replying His posts on this matter. The truth remains, Lagos is setting the standard for others to follow.



Insincere9gerian has missed road again
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:12pm On May 02, 2013
kunlekunle:


youve never been a sincere nigerian.
rail projects are almost an ever growing and expanding project.
Hes sourcing funds for other line.
for your information, the sum of 4.3billion dollars would be reqd to connect the whole yorubaland and the fed govt can do the brigdes to the north and east.

Insincere9gerian is now a laughing stock

8 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:14pm On May 02, 2013
CFCfan: I'm definitely not holding brief for the AD/ACN Lagos administrations of the past 14 years; but N400bn is a gargantuan sum of money which NO state govt in Nigeria can afford to splash on a single project. That amount is even bigger than d budgets of MOST states in Nigeria. Sometimes, it's necessary to solicit funds from the private sector to construct public infrastructure.
The proposed 4th mainland bridge (which will be 15 miles in length) will reportedly cost over $1bn, representing 25% of the state's annual budget. There is no way the LASG will commit such a huge sum of money to a single project too.

Nonetheless, I give the FG kudos for embarking on an aggressive railway modernization program, which I hope will be sustained and possibly improved upon by the introduction of either High-speed rail or 'Medium'-speed rail coaches. I'll suggest that the HSR should only be deployed in lucrative routes, such as Lagos-Onitsha, Enugu, Port Harcourt, Warri, Abuja, Kano etc.

3 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by automaticcarzz: 7:16pm On May 02, 2013
Prof Corruption:

Insincere9gerian is now a laughing stock


Of course he is.

9 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:17pm On May 02, 2013
Sincere 9gerian: Why are the vultures avoiding this thread? Where is the "Eko oni ba je" crew? They should tell us why their Lagos gods can still not complete Lagos railway project 14yrs after. Why are they still sourcing for N400billion 14yrs after? They seem to be clueless



Can you listen to yourself again, a retardeen a$$ licker accusing Fasola of being clueless? What should we call GEJ? The Great Grandfather of cluelessness

10 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:19pm On May 02, 2013
Sincere 9gerian:
14yrs after ACN clueless rule no 4th mainland bridge, unending railway project and no international Airport. No major completed project since 1999. Why? Very shameful

[img]http://2.bp..com/-08n9TeXSwlo/UCJ29u_6qhI/AAAAAAAAAOE/AfNpgo-EOLo/s320/smdh.gif[/img]

Can you believe this? Fasola is a performer, the evidence is out there for all to see.

6 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:24pm On May 02, 2013
Prof Corruption:



Insincere9gerian has missed road again
Stop chasing shadows. Face the topic. If you dont understand the topic, ask for help

1 Like

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 7:29pm On May 02, 2013
Insincere9gerian take a pen and write this down:

1. You would be more effective if you could "diversify" your criticism. Your fixation on Fasola, an acknowledged performer, would achieve very little. It will take years to change opinion of many on what Fasola is to Nigerians. But many will easily see you as a paid agent crying wolf when there is none.

2. Criticize some PDP governors once in a while. Majority of PDP governors are not doing well. There are plenty candidates you can feast on. This might show you in a glaring manner that the crime you accused others of, you are equally guilty of it.

3. Try to place less emphasis on personality or geopolitical posturing. Instead, concentrate on party like many of us have been doing calling PDP a nest of killers, an assembly of criminals, a synagogue of rogues and a fortress for election riggers.

4.Now thank me for this evening course on criticism.

18 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by automaticcarzz: 7:32pm On May 02, 2013
Prof Corruption: Insincere9gerian take a pen and write this down:

1. You would be more effective if you could "diversify" your criticism. Your fixation on Fasola, an acknowledged performer, would achieve very little. It will take years to change opinion of many on what Fasola is to Nigerians. But many will easily see you as a paid agent crying wolf when there is none.

2. Criticize some PDP governors once in a while. Majority of PDP governors are not doing well. There are plenty candidates you can feast on. This might show you in a glaring manner that the crime you accused others of, you are equally guilty of it.

3. Try to place less emphasis on personality or geopolitical posturing. Instead, concentrate on party like many of us have been doing calling PDP a nest of killers, an assembly of criminals, a synagogue of rogues and a fortress for election riggers.

4.Now thank me for this evening course on criticism.


LMAO!!

10 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:00pm On May 02, 2013
Prof Corruption: Insincere9gerian take a pen and write this down:

1. You would be more effective if you could "diversify" your criticism. Your fixation on Fasola, an acknowledged performer, would achieve very little. It will take years to change opinion of many on what Fasola is to Nigerians. But many will easily see you as a paid agent crying wolf when there is none.

2. Criticize some PDP governors once in a while. Majority of PDP governors are not doing well. There are plenty candidates you can feast on. This might show you in a glaring manner that the crime you accused others of, you are equally guilty of it.

3. Try to place less emphasis on personality or geopolitical posturing. Instead, concentrate on party like many of us have been doing calling PDP a nest of killers, an assembly of criminals, a synagogue of rogues and a fortress for election riggers.

4.Now thank me for this evening course on criticism.
Why not create another thread for your "ACN course on criticisms". As for this particular thread, it is about rail transport and the inability of your Lagos gods to complete the Lagos light rail project after 14yrs of clueless rule. Now, they'r searching for N400billion loan. What a shame.

1 Like

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:04pm On May 02, 2013
Sincere 9gerian:
Why not create another thread for your "ACN course on criticisms". As for this particular thread, it is about rail transport and the inability of your Lagos gods to complete the Lagos light rail project after 14yrs of clueless rule. Now, they'r searching for N400billion loan. What a shame.



This is becoming boring and lame now!

11 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by thelastPope(m): 8:09pm On May 02, 2013
You ACN rascals really think this your tactics of trying to derail threads against your pay masters will work abi?

Discuss the topic or shift yo one side. Please Sincere Nigerian, fire on! Ignore the dolt! He is a tout from surulere under bridge!

1 Like

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Emperoh(m): 8:09pm On May 02, 2013
Sincere 9gerian:
Why not create another thread for your "ACN course on criticisms". As for this particular thread, it is about rail transport and the inability of your Lagos gods to complete the Lagos light rail project after 14yrs of clueless rule. Now, they'r searching for N400billion loan. What a shame.

I thought a certain PDP has been in Power since 1999?

4 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by striker07(m): 8:13pm On May 02, 2013
what we should ask is this? is the amount high or not too high for the project? Do Lagos have to borrow all the money for the contract sum considering its huge monthly revenue?
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:14pm On May 02, 2013
Which one is infrastructure bank, can someone bring me along
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:14pm On May 02, 2013
Where's insincere9gerian again? He managed to escape from this thread.

3 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by ocheejemb: 8:22pm On May 02, 2013
These GIFS killed me...

This insincerenigerian of a person sha? How he read that piece of news which said the light rail is to start operations next month, and tried to turn it to a failure on LASG's part is beyond me.

How you think theres any sort of rationale in comparing one state's administration's achievements to that of the Federal Govt is beyond me.

10 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:22pm On May 02, 2013
Prof Corruption:



This is becoming boring and lame now!
Look who's talking- Prof Boring himself
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:23pm On May 02, 2013
We all know it's a norm for the lagos state government to hype projects and solicit for funds no matter how small they are. Imagine the New Lekki Road they built. That road was tagged the most expensive road/km in the world and they're taxing the hell out of people.

Now its 400 Billion. . . We just hope the project gets completed.

Fashola's gov. is all hype and no real work. The Lagos Indicator, a State Magazine, would show you the same works in a number of different issues. Side view, rear view of Teslim Balogun stadium. . .

Make dem sha do their own make dem comot. . .

3 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by Nobody: 8:24pm On May 02, 2013
Sincere 9gerian:
Look who's talking- Prof Boring himself

grin grin grin grin grin grin grin
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by DisGuy: 8:29pm On May 02, 2013
striker07: what we should ask is this? is the amount high or not too high for the project? Do Lagos have to borrow all the money for the contract sum considering its huge monthly revenue?

it also has a huge population that needs to be catered for; you cant spend all your income on one particular infrastructure

2 Likes

Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by DisGuy: 8:30pm On May 02, 2013
The Infrastructure Bank, which was opened in 1992, was initially named Urban Development Bank. The bank was established to bankroll infrastructure development in Nigeria. Meanwhile, an engineer with Lagos Metropolitan Area Transport Authority (LAMATA) revealed that the first phase of the Lagos light rail project will be ready for commuters' use by the end of June, this year. The engineer, who preferred anonymity, said: "The work is in three phases.

wtf; Nigeria home of the brave grin

why would an Engineer prefer anonymity? is he a politician?
Re: Infrastructure Bank To Fund N400bn Lagos Rail Project by nairaman66(m): 8:31pm On May 02, 2013
thelastPope: You ACN rascals really think this your tactics of trying to derail threads against your pay masters will work abi?

Discuss the topic or shift yo one side. Please Sincere Nigerian, fire on! Ignore the dolt! He is a tout from surulere under bridge!

I thought we only have one blockhead (insincere9ja) trying to swim against the tide??

Now listen dunce, The State of Lagos is trying to do what Nigeria cannot do!! Wether they borrow monies or not, is none of your business get it?

5 Likes

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