The Latest

Lagos House Of Assembly Approves N153 Billion For Sanwo -Olu To Construct Lagos Rail Mass Transit.

byTayo Aderinola
05/10/2020
1 minute read
The Speaker Lagos State House of Assembly, Rt Hon Mudashiru Obasa
Total
0
Shares
0
0
0

The Lagos House of Assembly has approved the sum of N153 billion sought by Governor Babajide Sanwo-Olu to construct the Lagos Rail Mass Transit( LRMT) also known as the Red Line and the Blue Line

Honourable representing Ikeja Constituency II LSHA ans Chairman House Committee on Lands, Hon Adedamola Richard Kasunmu making a contribution during plenary on Monday

The House unanimously approved the amount after adopting the report of the House Committee on Finance as submitted by its Chairman, Hon Rotimi Olowo.

Governor Sanwo-Olu had on Monday, September 14, 2020, sought the approval of the assembly for the amount to enable the government finance the construction of the Lagos Rail Mass Transit( LRMT), from Marina to Agbado ( Red Line) and from Mile 2 through Alaba, Iganmu to Marina( Blue Line).

While N93 billion of the sum would be sourced through Differentiated Cash Reserve Requirement (DCRR) Central Bank of Nigeria( CBN) Intervention Facility from First Bank of Nigeria(FBN), United Bank for Africa( UBA), and Zenith Bank for the Red Line the N60 billion would be sourced from DCRR CBN Intervention loan funds for the Blue Line.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More
3 minute read

VIDEO/PHOTOS: Sanwo-Olu showcases Lagos investment opportunities at the Lord Mayor Show, London

The spirit of Lagos came alive at the London Mayor’s Show in United Kingdom where the State Governor, Babajide Sanwo-Olu led the state contingent which included Aig Imoukhuede, former Group Managing Director of Access Bank and other top government officials to showcase the investment opportunities in the state across sectors.
byTayo Aderinola
13/11/2023