Written by Austine ELEMUE

Investors may manage Abuja light rail - FCTA

The Federal Capital Territory Administration had revealed that a lot of investors are lto manage the Abuja light rail system which has just been completed.

Secretary in charge of transportation, Comrade Kayode Opeifa, disclosed this while briefing journalists in Beijing, China on the sidelines of the just concluded 2018 Summit of Forum of China and Africa Cooperation, FOCAC. 

Opeifa said the coming on board of the investors will free government of the burden and huge cost of running the rail system which is both difficult to build and manage. 

The transport scribe also revealed that the project was partly financed by the China Exim Bank, Cooperation and partly by the Federal Capital Territory Administration. 

Opeifa noted that, "Phase 1 of the rail project has been completed and phase 2 contract has been signed and we are waiting for financing."

Speaking on the benefits of the comprehensive benefits of the FOCAC summit to the FCT, the Secretary explained that, "FCT is the fastest growing city of the world and Africa and you can only imagine the amount of investment the Chinese want to bring in. 

"FCT has the population. Nigeria has the population and China has the financing. So there could not be a better time for Nigeria and China as well as FCTA and Chinese investors to partner on infrastructural development".   

 

Search

Latest posts

PhotoBUHARI ACCEPTS FINANCE MINISTER, KEMI ADEOSUN’S RESIGNATION

The following is an official statement from the Presidential Villa in Abuja  tonight

PRESIDENT BUHARI ACCEPTS RESIGNATION OF FINANCE MI [...]

14 September 2018

PhotoBUHARI ACCEPTS FINANCE MINISTER, KEMI ADEOSUN’S RESIGNATION

The following is an official statement from the Presidential Villa in Abuja  tonight

PRESIDENT BUHARI ACCEPTS RESIGNATION OF FINANCE MI [...]

14 September 2018