The Federal Government don approve $2.99bn for Lagos Green Line, Kano Metro and Kaduna rail projects and, as e be, the decision aim to boost infrastructure, improve transportation and drive economic growth. Meanwhile, the government also set up power sector reform taskforce to tackle electricity challenges.
The approval come from Federal Executive Council (FEC) meeting for Abuja, as Minister of Finance, Taiwo Oyedele, explain say strong infrastructure dey key to productivity and better living standard.
According to am, the three major rail projects include Lagos Green Line Phase One, Kano Metro City Rail and Kaduna Light Rail.
Furthermore, he note say the projects, wey go cost $2.99bn, go be funded through Ministry of Finance Incorporated with support from counterpart funding.
The Lagos Green Line, wey go run from Marina to Lekki axis in Lagos, expected to ease traffic and serve one of the busiest commercial corridors in Africa.
In addition, Kano Metro project go improve urban transport for residents of Kano, while Kaduna Light Rail go strengthen mobility and business activities for Kaduna.
“These cities dey critical to Nigeria economy. Small investment here fit bring big results,” Oyedele add.
On the other hand, government also take major step for power sector reform.
Minister of Information, Mohammed Idris, announce say FEC don set up special taskforce wey go focus on improving electricity supply nationwide.
Moreover, President Bola Ahmed Tinubu go personally chair the taskforce, while Special Adviser on Power, Rilwan Babalola, go support the committee work.
The 10-member team include key ministers and stakeholders from energy sector, with possibility to expand if necessary.
Consequently, government say the aim na to overhaul the power sector completely, since stable electricity na key to industrialisation and economic growth.
As Nigeria dey push major infrastructure development, analysts believe say success of these rail and power projects go determine future economic progress of the country.
