Lagos Blue Line Phase 2 Project Approved by Afreximbank and Access Bank

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Lagos Blue Line Phase 2 Project Gets Green Light From Financiers, Afreximbank And Access Bank

The second phase of the Lagos Rail Mass Transit (LRMT) Blue Line has received financial backing from African Export Import Bank (Afreximbank) and Access Bank, marking a significant step forward in the project’s progress.

This financing was confirmed following a joint visit by representatives from both financial institutions to evaluate the project’s potential at the project site. During their assessment, Afreximbank’s Abuja Regional Chief Operating Officer, Mr. Eric Intong, and his Access Bank counterpart, Mr. Lookman Martins, expressed satisfaction with the outlined plan for the project.

Accompanying the financiers on their visit were key government officials including the Commissioner for Finance, Commissioner for Transportation, Permanent Secretary of the Debt Monitoring Office, and the Director of Rail Transport. This collaboration between public and private entities underscores the commitment to advancing infrastructure development in Lagos.

Lagos Blue Line Phase 2 Project Approved by Afreximbank and Access Bank
Lagos Blue Line Phase 2 Project Approved by Afreximbank and Access Bank (Credits: The Guardian Nigeria)

Paperwork for the project is currently being finalized and is expected to be signed by all parties involved in the coming weeks, as announced by the Lagos Metropolitan Area Transport Authority (LAMATA). This bureaucratic progress signals the imminent commencement of construction activities for the second phase of the Blue Line, which is poised to have a transformative impact on transportation within Lagos.

The Blue Line Phase Two, spanning 14 kilometers from Mile 2 to Okokomaiko, holds the promise of significantly enhancing transportation efficiency across the city.

Once operational, it is projected to cater to over 450,000 passengers daily, alleviating congestion and providing a faster and more convenient mode of travel between the Island and the mainland. This development aligns with the broader vision of the Lagos State Government to modernize infrastructure and improve the quality of life for its residents.

This milestone in the advancement of the Lagos Blue Line project reflects the concerted efforts of various stakeholders, from government officials to financial institutions, in realizing a sustainable and comprehensive transportation network for Lagos. With financing secured and paperwork nearing completion, the project is poised to enter the construction phase, marking a crucial step towards addressing the transportation challenges facing one of Africa’s most populous cities.

 

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