People in the Southern part of Nigeria will soon clink glasses over the Lagos-Calabar Coastal Rail. Reason: Standard Chattered Bank, London is ready to invest $11bn into the project.
Chibuike R. Amaechi, Minister of Transportation, revealed this in a statement on Saturday.
According to him, the proposed rail line, upon completion will, as reported by TNG, pass through Calabar, Uyo, Aba, Port Harcourt, Yenagoa, Otuoke, Ughelli, Warri, Sapele, Benin, Agbor, Asaba, Onitsha, Ore, Ijebu Ode, Sagamu and Lagos.
“London-based Standard Chartered Bank offers to fund the Lagos-Calabar coastal rail with $11bn of the $14.4bn needed to build the project.
The railline will pass through Calabar, Uyo, Aba, Port Harcourt, Yenagoa, Otuoke, Ughelli, Warri, Sapele, Benin, Agbor, Asaba, Onitsha, Ore, Ijebu Ode, Sagamu and Lagos!,” the minister’s statement on Saturday reads.