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FG Signs $1.5b Lagos-Ibadan Rail Line Contract - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / FG Signs $1.5b Lagos-Ibadan Rail Line Contract (5794 Views)

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FG Signs $1.5b Lagos-Ibadan Rail Line Contract by wesley80(m): 7:23am On Jul 19, 2012

The Federal Government yesterday disclosed that it had signed a $1.49 billion contract with China for the construction of the Lagos-Ibadan Standard Gauge Rail Double Track.

The rail line with Double Formation under Addendum No. 2 (2nd segment) is for the modernisation of the Lagos-Kano railway project.

It also approved other contracts covering the transport, power and the Federal Capital Territory (FCT).

Briefing journalists in company of his colleagues after the Federal Executive Council (FEC) meeting in Abuja, the Minister of the Federal Capital Territory, Bala Mohammed, Trade and Investment, Olusegun Aganga, Transport, Idris Umar, Power, Bart Nnaji, and Urban and Housing Development, Ama Pepple, the Minister of Information, Labaran Maku, said council approved contracts including the implementation of Addendum No. 2 (2nd segment: Lagos-Ibadan to the main contract for the railway modernisation project (Phase 1; Lagos-Kano).

Messrs China Civil Engineering Construction Company Nig Ltd which clinched the job, is expected to complete the project in 36 months.
The variation of the scope of work for the contract for design and construction of Abuja Rail Mass Transit Project (Lots 1&3) from the initial work span of 60.67km to 45.245km (Lots 1A &3) upped the amount payable from $841,645,898.00 to $823,540,545.87 payable at the prevailing exchange rate inclusive of 5 per cent VAT and 5 per cent variation on prices.

“The contract is in favour of Messrs China Civil Engineering and Construction Corporation (CCECC), with a completion period of 36 months”, Maku said.

On power: Council, in line with accepted best practices in the operation and maintenance of hydropower plants, approved the supply and installation of parts for the 2 x 140MW units 411G3 Generators at Shiroro Hydroelectric Plc, in favour of Messrs AsNDRITZ Hydro GmbH, in the sum of €2,075,754.00.

This is in addition to the N13,326340.68 to be retained by Shiroro Hydroelectric Plc to cover one per cent CISS fees and two per cent Port and Handling charges, with a completion period of eight months.

Council also approved the restoration of four Plant units and balance of plant at Omotosho Power Plc in favour of China Machinery and Engineering Corporation in the sum of USD 10,092,771.15 payable at the prevailing exchange rate at the time of payment, plus N78,753,893.30 for 5 per cent VAT with a completion period of 6 months.

On investment, Aganga said Nigeria has improved in the FDI attraction index to 23rd position making it a first quarter country for FDI attractiveness.

Nigeria is ranked first in the top five host economies for FDI in Africa at $8.91 billion in 2011 in comparision to $6.09billion in 2010, followed by South Africa with $5.9 billion in 2011 and Ghana with $3.2 billion.

Nigeria accounted for over one-sixth of flows into Africa as a whole. Only Nigeria, South Africa and Ghana attracted FDI inflows above $3 billion in 2011
thisdaylive.com/articles/fg-signs-1-49bn-rail-contract-with-china/120347/
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Nobody: 7:29am On Jul 19, 2012
its high time I pack my few clothes into my ghana must go and get my a.s.s back to
Nigeria before it develop past amelika angry

3 Likes

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Nobody: 7:42am On Jul 19, 2012
How many times will they give the contract? I thought they gave it to someone during Obasanjos regime.?

4 Likes

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by wesley80(m): 7:49am On Jul 19, 2012
virtuoso01: How many times will they give the contract? I thought they gave it to someone during Obasanjos regime.?

"Labaran Maku, said council approved contracts including the implementation of Addendum No. 2 (2nd segment: Lagos-Ibadan to the main contract for the railway modernisation project (Phase 1; Lagos-Kano).
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by ektbear: 7:54am On Jul 19, 2012
cool
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Afam4eva(m): 7:55am On Jul 19, 2012
Why is it just Lagos-Ibadan? I thought it was gonna be Lagos-Kano.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by wesley80(m): 8:19am On Jul 19, 2012
^^ It isn't just Lagos - Ibadan, the main contract still is Lagos Kano. That's why it was referred to as an "Addendum"
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by kunlekunle: 8:30am On Jul 19, 2012
good one but start your own engineering school
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by brownlord: 9:44am On Jul 19, 2012
Na wash, am not expecting any railway to be build in this PDP led administration, i don too hear this matter, let them fix lagos ibadan express road that is killing people everyday and forget about lagos ibadan air space
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by tonyx4x44(m): 9:52am On Jul 19, 2012
how many times?
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by timowale: 10:03am On Jul 19, 2012
what remains now is to execute the lofty programmes.hope it wont just be as usual on pages of newspapers and airwaves?
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Deleahmed: 10:03am On Jul 19, 2012
Dis one na beta news na. If GEJ fit do this one walahi everybody go enjoy am o. But sef , dem don too overflog this railway thing and nothing is coming forth on it. Well, make we hope and believe say this one go wrk.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by slimyem: 10:03am On Jul 19, 2012
how long will it take to complete the project?
Eternity perhaps?

1 Like

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by rman: 10:04am On Jul 19, 2012
Up GEJ! Up PDP!!!
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by omar22(m): 10:13am On Jul 19, 2012
Would they refurbish the existing rail or construct another route
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Elueme: 10:13am On Jul 19, 2012
Good one... We earnestly wish the country well in carry out these capital projects...
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Olaone1: 10:14am On Jul 19, 2012
Completion period of 36 months + X











Please note: you can substitute 'X' for 'forever'. You can now solve this linear equation (may God help you)

4 Likes

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by crackhouse(m): 10:14am On Jul 19, 2012
Another money on its way to the pockets of the Fed. Govt gluttons.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Nobody: 10:16am On Jul 19, 2012
Another media jamboree by the clueless goathead Jonathan.Another money gone down the drain and in account of pdp leaders. How many times will they sign this same lagos-ibadan expressway or rail.Na God go fire all the people killing nigerians courtesy of bad governance and corruption. 1.5BILLION AMERICAN DOLLARS
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by stepo707: 10:19am On Jul 19, 2012
congrats to the chinese company.This is good news.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by ABUGEORGE(m): 10:21am On Jul 19, 2012
Na now i real know say politic na game. Una no go understand but if u dey follow up or u current u for get all dis scope. Dis is just a compensation where anoda corruption is booming at
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by MurphyT1: 10:25am On Jul 19, 2012
AGAINNNNN?? smh
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by ypzilanti: 10:27am On Jul 19, 2012
Reserve praise until the commisioning of the project. East West road is still lying fallow after how many years? PDP knows how to give contract without conclusion or monitoring of project.

The difference between the corruption in Nigeria and the corruption in Lagos State is that lagos state awards to cronies with capacity to do the job and over inflates, but the job gets done.

PDP on the other hand over inflates awards to cronies with no clue on how to do the job, and the job never gets done.

5 Likes

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Abujafood: 10:28am On Jul 19, 2012
slimyem: how long will it take to complete the project?
Eternity perhaps?

36 months if you read the OP's 1st post well!
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by slimming: 10:29am On Jul 19, 2012
Messrs China Civil Engineering Construction Company Nig Ltd which clinched the job, is expected to complete the project in 36 months.

FG never get tired of signing contracts that will not complete but rather be abandoned.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by ypzilanti: 10:30am On Jul 19, 2012
ypzilanti: Reserve praise until the commisioning of the project. East West road is still lying fallow after how many years? PDP knows how to give contract without conclusion or monitoring of project.

The difference between the corruption in Nigeria and the corruption in Lagos State is that lagos state awards to cronies with capacity to do the job and over inflates, but the job gets done.

PDP on the other hand over inflates awards to cronies with no clue on how to do the job, and the job never gets done.

I refer to federal government controlled government of PDP. A few governors on the platform succeeded by cutting of the local contractors with affiliation to political jobbers, and giving jobs to the pros. Eg. Akpabio.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by chatterly: 10:30am On Jul 19, 2012
STORY STORY,why the same CCECC that has been working onthe rail system since abachas time without any result!!!!!!!!!!!!!!

1 Like

Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by ypzilanti: 10:34am On Jul 19, 2012
We would be better served by crude oil for infrastructure swap with the Chinese government.

This way, the thieving governors will not be able to lay their hands on part of the Oil Money, and Nigerians will see government in action.


Creative thinking, and playing around the constitution, but achieving results.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Nobody: 10:41am On Jul 19, 2012
good news, still have many cheap land for sale along this axis both inside estates and outside estates for more information call 08067586332 or email info@lifelightproperties.com
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by alaoeri: 10:48am On Jul 19, 2012
Am with GEJ on this but ωε don't want a paper work let the project materialised, keep on developing SW.
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by Nobody: 11:01am On Jul 19, 2012
Cool folks add me on bbm. My pin: 29BBAF81. wink
Re: FG Signs $1.5b Lagos-Ibadan Rail Line Contract by kim77: 11:06am On Jul 19, 2012
Hello all.

Its high time we stop saying cool /good to project/contracts awarded by government without following up or playing our part in monitoring the progress of the contracts. In Uk for instance locals monitor and visit construction site and say what there reservations are.

Attention : Seun

Could you create a section where we could upload pictures of progress of projects/contruction in our areas? ,State of roads , housing , hospital etc. With this i believe WE WILL BRING GOVERNMENT CLOSER TO THE PEOPLE. Since they have refused to get closer to us. Lets explore the power of Information technology ...smart phone ,Camcoder etc.

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