The Federal Executive Council (FEC) concluded its session on Thursday by endorsing three significant rail infrastructure initiatives with a combined value of $2.99 billion.
These approvals are part of the government's strategy to accelerate the modernisation of Nigeria's transport systems and improve economic links across crucial urban centres.
Briefing journalists after the FEC meeting, chaired by President Bola Tinubu at the State House in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Professor Taiwo Oyedele, announced the approved projects. These include the Lagos Green Line Rail, the Kano State Metro Rail, and the Kaduna State Rail project, all designed to alleviate urban congestion, improve travel, and stimulate economic activity in their respective regions.
Professor Oyedele further stated that these projects have been incorporated into the extended 2025 budget and are anticipated to strengthen the capital investment component of the national economic framework.
"The Federal Executive Council approved three transformative rail projects: the Lagos Green Line, the Kano State Metro City Rail project, and the Kaduna State Rail project. These projects will be funded by the Ministry of Finance Incorporated," the Minister explained.
According to the Minister, these endorsements are consistent with the current administration's broader infrastructure goals, which place a high priority on rail development as an economical and sustainable alternative to road transportation.
The Lagos Green Line project is expected to complement the existing urban rail systems in Lagos, which is Africa's most populous city. Meanwhile, the Kano and Kaduna rail projects are projected to stimulate commerce in Nigeria's northern region by enhancing the movement of both passengers and goods.
By Deji Elumoye
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