Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,773,621 members, 6,605,553 topics. Date: Saturday, 27 November 2021 at 09:52 AM

CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project (10696 Views)

CBN Disburses ₦791 Billion To 3 Million Farmers / Concerns Over Eastern Line Railway Contract / CBN Disburses N30 Billion To Oil Palm Producers (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Arizoner: 7:49am On Oct 15
The Central Bank of Nigeria (CBN) has announced that it will continue to fund railway developments in Lagos State, despite the fact that N45 billion has already been disbursed for the state’s Blue Line project.

Yusuf Philip Yila, Director, CBN Development Finance, announced this in Lagos yesterday during an inspection of the Blue Line project operated by the Lagos Metropolitan Area Transport Authority (LAMATA).

CBN conducted the inspection to monitor and evaluate the project’s progress, according to Yila, whowas given a tour of the Marina site.

What the CBN is saying

The Central Bank, through select banks, supplied funding under the Differentiated Cash Reserves Requirement (DCRR) intervention to ensure Lagos State had the necessary funds for the project.

Yila said, “ The total amount we have made available for this Line is N60 billion. We have disbursed N45 billion. There’s another tranche of N15 billion. So, we see that the progress of the job matches the funding so far. This is just one of the projects under the DCRR intervention. As part of our response to COVID-19, we released N1 trillion.

“We are confident, based on what has been shown, that progress has been made.

Disbursement of the funding is being done in tranches. So, another tranche is due. As the central bank, we felt it is important to come and see what is on ground and the quality of work is quite impressive.

“They have shown us some of the technical details. For me, what Isee is the number of jobs provided; young people working in Nigeria, welding, fabricating. There are over 500 jobs on site here, which isa good takeaway. I am happy, having metsome of the people on site and across other stations.”

The Blue Line is a 27-kilometre stretch from Okokomaiko to Marina being constructed in the first phase. According to LAMATA, the vision of the state is to complete the project in the fourth quarter of 2022.


https://nairametrics.com/2021/10/15/cbn-has-disbursed-n45-billion-to-lagos-for-blue-line-railway-project/

5 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by DubaiLandLord2: 7:50am On Oct 15
This is a very good one from the CBN. Lagos really needs that rail line.

The CBN under a PDP FG lead Government would never have agree to support this project this way.

27 Likes 3 Shares

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by benuejosh(m): 7:50am On Oct 15
Buhari is working.

7 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by PrinceOfLagos: 7:50am On Oct 15
Tinubu after hearing this news ..

29 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Sonicroyel: 7:54am On Oct 15
E soak

1 Like

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by DEROX: 8:03am On Oct 15
wink Only lagos fit do am abeg

21 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Bewiseedet(m): 8:05am On Oct 15
Another way of enriching Tinubu ahead of 2023

3 Likes 3 Shares

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Grownow: 8:15am On Oct 15
Ok
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by slawormiir: 8:15am On Oct 15
Damnnn niggar
Upon all the pampering way government dey give lagos

Still lagos looks like a shit hole

15 Likes 3 Shares

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Optimistguy1969: 8:15am On Oct 15
Everyday, CBN this, CBN that.
Yet no single (always negative) impact on the economy

2 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by abatechz(m): 8:15am On Oct 15
Lagos keep winning
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by theantidote: 8:16am On Oct 15
Hope the largest chunk of this money won't be diverted to thiefnubu's account

4 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by EndBuhariNow(m): 8:16am On Oct 15
Half of the money will go into Thief Tinubu Bullion Van... come to dubai and see wetin be train

4 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by house10s: 8:19am On Oct 15
waiting for d old newly painted train to arrive

1 Like 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by damosade(m): 8:20am On Oct 15
We need railway from CMS through lekki ajah ibeju epe..

7 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by TimeTraveller: 8:22am On Oct 15
ok
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Blackfire(m): 8:22am On Oct 15
I hope when it gets to KANO or northern state you will double it



North2023
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by oluwaseyi0: 8:22am On Oct 15
DubaiLandLord2:
This is a very good one from the CBN. Lagos really needs that rail line.

The CBN under a PDP FG lead Government would never have agree to support this project this way.

You mean the same railway that was initially cancelled by the dullar.dinho Buhari of a president
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Shetemi12(m): 8:22am On Oct 15
Lagos State is a country on it's own

11 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by TimeTraveller: 8:22am On Oct 15
slawormiir:
Damnnn niggar
Upon all the pampering way government dey give lagos

Still lagos looks like a shit hole

Leave Lagos and see if it won't look better.
It is your people from the Yeast that overcrowded Lagos.
Have you noticed how every market in Lagos dominated by Yeasterners is filthy?
Have you ever been to Alaba International and its environs?

26 Likes 2 Shares

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Shetemi12(m): 8:23am On Oct 15
EndBuhariNow:
Half of the money will go into Thief Tinubu Bullion Van... come to dubai and see wetin be train

To have sense is a blessing

19 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by forgiveness: 8:24am On Oct 15
Taking eternity to complete a mere 27km railway. Something Ethiopia started after this project and completed years ago.

2 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Afamed: 8:25am On Oct 15
Good. The rest can go and take their own from IPoB

3 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by TimeTraveller: 8:25am On Oct 15
Bewiseedet:
Another way of enriching Tinubu ahead of 2023

Orji Kalu and Theodore Orji are still living large on money stolen from Abia, while Abia looks like a huge pig farm.

But let's attack Tilumbu.

Awon ashierey!

29 Likes 2 Shares

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Afamed: 8:26am On Oct 15
PrinceOfLagos:
Tinubu after hearing this news ..
It's too early to wail

13 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Afamed: 8:27am On Oct 15
EndBuhariNow:
Half of the money will go into Thief Tinubu Bullion Van... come to dubai and see wetin be train
Wailing children

15 Likes 1 Share

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by PrinceOfLagos: 8:28am On Oct 15
Afamed:

It's too early to wail
Wail ke

Tinubu will surely be the happiest man on earth after hearing this news

I trust large chunk of the money will go into his bullion bullion Vans
Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by helinues: 8:28am On Oct 15
Nice one

SW Reaping from dividends of democracy

5 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by wman(m): 8:28am On Oct 15
slawormiir:
Damnnn niggar
Upon all the pampering way government dey give lagos

Still lagos looks like a shit hole

You people keep coming up with this fallacy of Lagos looking like a shithole from your dusty enclave in Edo State.

Mention one state that looks better than Lagos.

21 Likes

Re: CBN Disburses ₦45 Billion To Lagos For Blue Line Railway Project by Sammy07: 8:28am On Oct 15
angry

slawormiir:
Damnnn niggar
Upon all the pampering way government dey give lagos

Still lagos looks like a shit hole


Tell your Edo government to do am, if e easy.

15 Likes

(1) (2) (3) (4) (5) (Reply)

Who Is Buhari's VP, Osinbajo, Osinbajo Or Osibanjo? Right Spelling Please. / FG Denies Operating Excess Crude Account / Buhari’s Visit: U.S. Finalises Repatriation Of Over $500m To Nigeria - Malami

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 66
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.