Lagos to float N275bn bond for light rail
By Rasheed Bisiriyu
Published: Wednesday, 12 Nov 2008
The Lagos State Government on Wednesday announced plans to float a N275bn bond on the Nigerian Stock Exchange to finance the construction of infrastructure to support two new rail lines currently being developed.

The two lines – Red and Blue – are to run from Agbado to Marina, and from Okokomaiko to Marina respectively.

Governor Babatunde Fashola, who made the disclosure at an investors’ forum in Lagos, said that his predecessor, Asiwaju Bola Tinubu, initiated the project.

According to him, provisions for the funding of the projects have been spread over the state’s budgets for three years (2008-2011).

Over $1bn will be spent by the state government on the infrastructure. It is also estimated that local and foreign investors will commit over $1bn to the provision of rolling stock and other operational equipment in the running of the two lines.

The governor, who was represented by the Commissioner for Special Duties, Dr. Tola Kasali, said that both lines, which are to be completed in 2011, were estimated to move 1.6 million passengers daily.

He said, “The concessionaire for the Blue Line is expected to invest an initial amount of $271m, although total investment over a 25-year-period of the concession is about $820m. The concessionaire for the Red Line is expected to invest an amount of $764.4m.

“The Lagos State Government intends to finance the infrastructure for both rail lines through the capital market by floating an estimated N275bn worth of rail infrastructure bonds.”

He also gave the details of the capital cost of project as Okokomaiko-Iddo ($582m), Iddo-Marina ($215m), and Agbado-Iddo ($402m).

He stressed that the project would assist in traffic decongestion and landmark public/private partnership and opportunities for real estate development near the rail stations.

The governor recalled that the dream of a metro line project for Lagos was conceived under the Lateef Jakande Administration in the early 1980s but was abandoned by the subsequent administrations.

Also speaking at the event, the Managing Director, Lagos Metropolitan Area Transport Authority, Dr. Dayo Mobereola, said the project was part of an already approved rail network for the state, which comprised seven rail lines.

Apart from the Lagos forum, he said that the state government planned two other investment forums for Dubai in the United Arab Emirate to capture investors in that region and Asia, and in London for potential investors from Europe and the United States.

The LAMATA boss urged investors to take advantage of the opportunity, claiming that it would be more rewarding than investment in GSM companies.

Lamenting that Lagos was the only mega city in the world without a light rail, he expressed optimism that the new lines would be one of the few most profitable rail systems in the world, next to Hong Kong.

He said, “We have the funding mechanism to pay for the two rail lines. It will not be a start and stop show. It is a project that we shall start and complete in record time.

“We have engaged renowned consultants, CPSC Transcorm of Canada, which has proven integrity for the project.”

No this is not the way to Go but if well you are to go this way God Be with you.

The two rail lines are the Red Line (Agbado to Marina) and Blue Line (Okokomaiko to Marina). Both are projected to carry more than 1.6 million passengers per day.

I have a bit of reservation about 2 lines dumping 3 million people in marina, the designers should take note of certain realities 1) Marina is not the hub in lagos anymore. How will 3 million people travel from marina to VI where all the actions are. [size=8pt] If the designers don't get this right we might end up with a bigger nightmare.[/size] 2) On a positive note the arrival of the trains in Marina might trigger a relocation boom of most bank from VI to Lagos Island. But I do not see that happening in the short term, as lagos island has been neglected for almost 2 decades now.

Business traffic and real estate tend to improve and grow near rail lines, so I doubt they will "end up with a bigger nightmare".

the guy that started this thread is so knowledgeable and passionate about Nigeria,come on keep it up, one thing is this I think Gov. Fashola, saw your post,they put an offer for bid to construct, 5 lanes x 2 from Badagry to the road linking Eric Moore and a light rail in the middle, I hope it will happen in our days and not become like one of those Nigeria projects, we all want the best for our country, we look forward to it.

@Topic
Best post I've read on Nairaland in a while!

midas02,
Quite an age! I am yet to see the write-up we discussed on the phone.
please send the comprehensive proposal to my mail box asap   toxnaija@gmail.com.
I would like to discuss your inputs with him.I am thinking of asking him to invite you to the stakeholders' forum in Lagos,London,and Dubai.
thanks

Hi Midas02 & Toxnaija.

I have read your posts with great interest. I am working with a friend on environmental issues. Sth caught my interest of recent. To the right of Third aminland bridge, there is reclamatio work currently going on. We want to look at the environmental implication; specifically reclamation and drainage. Lekki was reclaimed and now, when it ains, it is often flodded. Do you have any background knowledge or input? I will start a new thread. Pls make your comments there.

Hmm. . . what can I say. . .

One of the best posts I have read on any forum till date.

@poster, good work. Seems Lagos State govt is thinking in line with you. Some of us have had the same ideas for months now but you have gone a step further, you have researched on it and outlined it. I have learnt now, not just to think but to also act.

@the rest of us. One thing I have learnt in life is never to see obstacles (all in the name of facing reality). Obstacles are only there to make us stronger and more resolved in our duties. There are so many things we can do to remake and rebuild Naija, I for one am starting to re-brand Naija. (if anyone is interested pls PM me). We are organising seminars, doing 'little' projects round the world, just to show the rest of the world that we aint just 419ers and fraudsters. In what ever area you think you can help, pls do, Naija needs us now more than ever. Our parents have failed us, they have handed over a sick and dying Nation to us, what will we hand oer to our children? Will we fail them too?

“We have engaged renowned consultants, CPSC Transcorm of Canada, which has proven integrity for the project.”

google for 'CPSC Transcorm of Canada' came back with JUNK.

anyone with the website of this consultants??

These are renderings of the light rail blue line (Okokomaiko to Marina) along the expanded Lagos-badagry expressway
as envisioned by the Fashola Administration





Some stations along the blue line

I will definately be following this post i am very impressed with everything i'm seeing in this post. I know Nigeria is capable of so much and i just wish I could be a part of this new development. I am planning to do a MSc relating to this and general infrastructure and development so that I can play a part someday. After doing NYSC in Lagos for almost a year I know how much of a difference even just the BRT makes and these developments are welcome and attainable.
Imagine:

-Less go-slow - visually nicer and faster routes to destination
-Easier movement for tourists and corpers
-Less Armed robbers
-Less 'One Chance' or 'Last Chance'

As citizens of Nigeria please lets do all we can to make sure this rolls out with no hitches which will mean alot of cooperation as the developmental stages will cause some disruption which is necessary. We can do it!

I think this is the best topic in Nairaland for a while.

Thumbs Up for the LAMATA.

I have reviewed the LAMATA site, and the initial idea of building two lines is a good step forward, but as someone that grew up in New York City, I think that if they plan on moving an excess of 3 million passengers per day, light rail would be a very inadequate solution, especially with diesel-powered rolling stock.

I have seen light rail systems in northern New Jersey, and they can barely efficiently hold more passengers than buses, so imagine an overcrowded bus-like vehicle on an at-grade right-of-way, struggling to move people to where they want on time. I have experienced that here, and I imagine it could be a bit worse in Lagos. I think that an electrified heavy metro rail system would be a much more efficient solution to handle that number of passengers.

How much of a cost difference is there between light and heavy rail systems? I can't imagine it will be that much different.

I think nairaland can produce great leader.


please why cant we just try and start some political campign for change on the forum and allow some 1 like this poster to be the leader i think this will go along way.

or what do u think?


this is a great motivation for nigerians

@ Orimili, the NJ Light Rail Transit only has 3 lines and is designed to carry 10,000 people max per day, using only 1 car per tram. While the Proposed Lagos Rail will have 7 lines, each line carrying 100,000 - 300,000 people per day, and will most likely have 4-7 cars per tram. The point is design. On a side note,The Lagos Light Rail Project will have a monorail that will run through Lagos Island and Victoria Island.

[size=14pt]Proposed Lagos Rail[/size]




[size=14pt]Proposed Lagos Urban Rail Network for 2011[/size]



VIDEO OF THE LIGHT RAIL: http://www.lamata-ng.com/lamatalrmt.html

@GAR3TH What is the project status as at today ?, Lagosians needs to know

I believe construction started last month.

hhhhm
best thread in nairaland so far
,
it is good to know that the transport sector is now number one priority to the lagos state government, I wonder how an unknown consultant in the field of transport planning/engineering (crsc or whaever) won a project of such magnitude. Their website is not even professional and not much information can be obtained from it.
olumide,
Transport planner,UK

Finally.

[flash=450,350]
https://www.youtube.com/watch?v=aAUkY_bOLsU[/flash]

Rapid Mass Transit System (Metro-Rail) In Lagos

I spent some time studying the official Lagos State proposal and without being too presumptuous, I believe the proposal exhibits several serious weaknesses.

With the exception of the proposed Red and Blue line, the other proposed lines offer:
[list]
[li]Limited interconnectivity[/li]
[li]Poor transfer fluidity between lines[/li]
[li]High collateral cost to benefit ratio [/li]
[li]Poor cross-sectional inclusion [/li]
[li]Limited strategic local service[/li]
[/list]

I believe a hybrid of my proposal and the official proposal will serve Lagos better. However, you may take this advice with a pinch of salt since I have been accused, more than once, of being too aggressive and opinionated! I believe that if this could be done, there may be someone of influence here who is in a position to propose it to the proper authorities. I am convinced that there are elements and details in my proposal that should and could be improved by industry experts using the vast experience, resources and knowledge that is at their disposal to create a better and more workable hybrid.

Just a reminder of my proposal on page 1 of this thread, so that it can be compared to the official proposal above.

Hi folk !

Everybody can dream
How Nigerian government can build metro system in Lagos, when they can not provide running water in big cities ?
It is the same like to ask a blind person to drive a car

I have read lately the story "The water vendors of Nigeria" from abuja by BBC.

greetings from Bangkok and Kuala Lumpur
www.tribudragon..com

I pray God give Gov Raji Fashola the grace to see this project come to pass, A couple of Nigerians home and abroad dread going to lagos due to the only available road traffic jam.

Anyone with update on the project implementation? Pictures or links will be highly appreciated

Wrote CPCS twice! No response
I have my reservations about this company and it's touted background.
Seems to me that the company is really a feasibility study and consultancy service firm.
The way it is, it doesn't seem set up for the actual implementation of any project. Nor have I seen evidence of a design -build capacity on its profile!
I smell Naija politics, influence peddling and a massive misappropriation of funds, time will tell!

Midas02:

Wrote CPCS twice! No response
I have my reservations about this company and it's touted background.
Seems to me that the company is really a feasibility study and consultancy service firm.
The way it is, it doesn't seem set up for the actual implementation of any project. Nor have I seen evidence of a design -build capacity on its profile!
I smell Naija politics, influence peddling and a massive misappropriation of funds, time will tell!

I say keep writing, because if you continue to write, they will have no choice but to listen. I have a few ideas myself, including a regional rail system that can connect from other states and cities, but I don't know how far that will go until I can also write to them myself.

https://www.youtube.com/watch?v=aAUkY_bOLsU

Update anyone?

when is the flag off
when is it due?

dead

I enjoy the topic nice one

Bus only. Preferably American built buses.