The Lagos Blue Line Rail project on completion is expected to transport more than 450,000 passengers daily.
Lagos Metropolitan Area Transport Authority (LAMATA) in a statement said that the Lagos Blue Line Phase Two has received the green light from financiers.
The Blue Line Phase Two, which spans 14 kilometres from Mile 2 to Okokomaiko, is expected to significantly improve transportation in Lagos.
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It will provide a faster and more convenient way for residents to travel from the Island to the mainland and vice versa.
On financing for the second phase of the Lagos Rail Mass Transit (LRMT), LAMATA said the Blue Line has received the nod of the African Export-Import Bank (Afreximbank) and Access Bank, who are jointly providing funding for its completion.
Afreximbank’s Abuja Regional Chief Operating Officer, Eric Intong, and his Access Bank counterpart, Lookman Martins, jointly visited the project site on Friday.
READ ALSO: Lagos to deliver second phase of Blue Rail pro
“The banks expressed their satisfaction with the plan for the project, and it is expected that construction activities on the project will go upbeat in the coming weeks,” LAMATA stated.
“Paperwork for the project are being finalized and may be signed by the parties and the Lagos state government in the coming weeks.”
Lagos state governor, Babajide Sanwo-Olu signed the contract for the second phase of the rail line during its launch performed by former President, Muhammadu Buhari on January 24, 2023.
