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

Lagos Assembly Speaker, Rt Hon Mudashiru Obasa

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 

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.

3 thoughts on “Lagos Assembly Approves N153 Billion For Sanwo -Olu To Construct Lagos Rail Mass Transit

  • April 23, 2021 at 11:55 pm

    695602 9983i just didnt need a kindle at initial, but when receiving one for christmas im utterly converted. It supply genuine advantages over a book, and makes it such a good deal additional convenient. i may well undoubtedly advocate this item: 292615

  • May 7, 2021 at 3:39 pm

    515724 542654Most reliable human being messages, nicely toasts. are already provided gradually during the entire wedding celebration and therefore are anticipated to be extremely laid back, humorous and as effectively as new all at once. very best man speech 238745

Leave a Reply

Your email address will not be published.

%d bloggers like this: