Government signs MOU with Chinese for railway improvements


The Federal Government of Nigeria has signed a Memorandum of Understanding (MOU) with CCECC Nigeria Limited a subsidiary of China Civil Engineering Construction Corporation to modernise the Lagos to Ibadan railway.

The contract is valued at $1.5 billion and will lead to the modernisation of 156.65 kms of track to a double track. The contract will take about 36 months to complete and will be partly financed by the Chinese Government through the China EXIM Bank Concessionary loan facility.

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