The Federal government has awarded the Lagos-Ibadan rail project to China Civil Engineering Construction Corporation at a cost of 1.5 billion dollars (N458bn).
The News of Agency of Nigeria reports that the Minister of Transportation, Rotimi Amaechi made this known at the quarterly Presidential Business Forum which was led by Vice-President Yemi Osinbajo at Abuja, on Monday.
Amaechi commended the Minister of Finance, Mrs Kemi Adeosun for ensuring full release of the counterpart funds for the project, and enjoined the National Assembly to ensure speedy approval of the 30 billion dollars foreign loans for various project which will enhance employment opportunities in the country.
Meanwhile, President of Manufacturers Association of Nigeria (MAN), Frank Udenba-Jacobs, raised an issue concerning the closure of the Nnamdi Azikiwe International Airport Abuja, Amaechi said the airport’s runway would be reconstructed not rehabilitated.
According to Amaechi, the entire architecture of the runway from bottom to top has collapsed as it was built to last for 20 years and now has lasted for 34 years, insisting it is totally unsafe to continue to use the runway.
Vice-President Yemi Osinbajo emphasised the determination of the Federal Government to inaugurate its Economic Recovery Growth Plan in February. According to him, sustainable economic growth is only possible if it is private sector led.
“The main plan of our economic plan is the sustenance of a robust private sector partnership.
“Indeed it is our strong belief that sustainable economic growth is only possible if it is private sector led.
“And a good deal of attention has been paid as you will probably find in sustaining private sector leadership especially in the planning of our economic recovery and growth plan 2017, which is to be launched next month.
“I want to say that the pivot of that plan is private sector led recovery and a private sector led goal plan.
“So this forum is an important one for engendering the continuous engagement that this partnership will entail,’’ Osinbajo said.