Business
FG Releases N72bn For Lagos-Ibadan Rail Project
The Minister of Transportation, Mr Rotimi Amaechi, says the Federal Government has released N72 billion counterpart funding for the construction of Lagos-Ibadan modernisation railway project.
Amaechi made this known at the quarterly Presidential Business Forum which was presided over by Vice-President Yemi Osinbajo at the Presidential Banquet hall, Abuja.
The Tide source reports that the Lagos-Ibadan rail project which was awarded to China Civil Engineering Construction Corporation (CCECC) would cost about 1.5 billion dollars (N458bn).
Amaechi, who commended the Minister of Finance, Mrs Kemi Adeosun, for ensuring full release of the counterpart funds for the project, enjoined the National Assembly to ensure speedy approval of the 30 billion dollars foreign loans for the project.
“On the construction of Lagos-Ibadan Railway, the Minister of Finance has been kind enough to release the counterpart funding in full.
“I think in the history of Nigeria this is the first time that we are releasing counterpart funding in full so that there will be no delay, since the Chinese loan appears to have been approved.
“The only thing we need to do, I thank God there is somebody from the National Assembly, is to plead with the National Assembly.
“The National Assembly should please approve the 30 billion dollars loan.
“If you don’t respond, if you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want the economy to make.
“So, for me here, I will enjoin you to persuade the National Assembly to kindly make that approval because they are tied to projects,’’ he said.
He called on the National Assembly to approve the loans in order to enhance employment opportunities in the country.
On the concerns raised by the President of Manufacturers Association of Nigeria (MAN), Frank Udenba-Jacobs, over the closure of the Nnamdi Azikiwe International Airport, Abuja, Amaechi said the airport’s runway would be reconstructed not rehabilitated.
“I don’t know if there is anything new you want to hear about the closure of the airport.
“The story is the runway was built to last for 20 years and now it has lasted for 34 years and government does not want to lose anybody.
“I heard that Lufthansa landed and damaged their gear. They have been grounded for three days, trying to repair it and fly back.
“Imagine if those three hundred and something persons had died. The first thing you will hear is Minister of Transportation- resign; Minister of State for Aviation – resign. “We don’t want to resign’’ ’
According to Amaechi, the entire architecture of the runway from bottom to top has collapsed, insisting it is totally unsafe to continue to use the runway.
In his remarks, Vice-President Yemi Osinbajo, reiterated the determination of the Federal Government to inaugurate its Economic Recovery Growth Plan in February.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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