The Lagos Blue Line Rail project, expected to commence operations in the first quarter of 2022 has the backing of the Central Bank of Nigeria (CBN), Sterling Bank, Access Bank, and Fidelity Bank.
Revealing this was the Managing Director of the Lagos Metropolitan Area Transport Authority (LAMATA), Abimbola Akinajo.
Akinajo said, “The vision of the state is to ensure that this project will be operational in the first quarter of 2022, as we are on track. One of the major things in every project is funding and with the support we have from CBN and three other banks – Sterling, Fidelity and Access, we will ensure we meet our goal and target, which is the last quarter of 2022.”
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Also speaking was the Director, Development and Finance, CBN, Phillip Yusuf, while inspecting the ongoing work at the Marina axis, noting that the CBN supported the project with N60 billion.
He said, “The total amount that we have made available for this line is N60billion. We have disbursed N45 billion; there is another tranche of N15 billion due.
“So, we can see the progress matches the disbursement that have been made so far. This is just one of the many projects under the DCR Intervention.”
