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FG Disburses N72bn For Lagos-Ibadan Railway Project

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railway

President Muhammadu Buhari led Federal Government has released N72 billion counterpart funding for the construction of Lagos-Ibadan modernisation railway project.

The Minister of Transportation, Mr Rotimi Amaechi made this known at the quarterly Presidential Business Forum which was presided over by Vice-President Yemi Osinbajo at the Presidential Banquet Hall, Abuja, on Monday.

The News Agency of Nigeria (NAN) reports that the Lagos-Ibadan rail project which was awarded to China Civil Engineering Construction Corporation would cost about 1.5 billion dollars (N458bn).

Amaechi, who commended the Minister of Finance, Mrs Kemi Adeosun for ensuring full release of the counterpart funds for the project, enjoined the National Assembly to ensure speedy approval of the 30 billion dollars foreign loans for various project

“I think in the history of Nigeria this is the first time that we are releasing counterpart funding in full so that there will be no delay, since the Chinese loan appears to have been approved.

“The only thing we need to do, I thank God there is somebody from the National Assembly is to plead with the National Assembly.

“The National Assembly should please approve the 30 billion dollars loan.

“If you don’t respond, if you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want the economy to make.

“So, for me here, I will enjoin you to persuade the National Assembly to kindly make that approval because they are tied to projects,’’ he said.

He called on the National Assembly to approve the loans in order to enhance employment opportunities in the country.

On the concerns raised by the President of Manufacturers Association of Nigeria (MAN), Frank Udenba-Jacobs, over the closure of the Nnamdi Azikiwe International Airport Abuja, Amaechi said the airport’s runway would be reconstructed not rehabilitated.

“I don’t know if there is anything new you want to hear about the closure of the airport.

“The story is the runway was built to last for 20 years and now it has lasted for 34 years and government does not want to lose anybody.

“I heard that Lufthansa landed and damaged their gear. They have been grounded for three days, trying to repair it and fly back.

“Imagine if those three hundred and something persons had died. The first thing you will hear is Minister of transportation- resign; minister of state for Aviation – resign.

“We don’t want to resign’’

According to Amaechi, the entire architecture of the runway from bottom to top has collapsed, insisting it is totally unsafe to continue to use the runway.

In his remarks, Vice-President Yemi Osinbajo, reiterated the determination of the Federal Government to inaugurate its Economic Recovery Growth Plan in February.

According to him, sustainable economic growth is only possible if it is private sector led.

“The main plan of our economic plan is the sustenance of a robust private sector partnership.

“Indeed it is our strong belief that sustainable economic growth is only possible if it is private sector led.

“And a good deal of attention has been paid as you will probably find in sustaining private sector leadership especially in the planning of our economic recovery and growth plan 2017, which is to be launched next month.

“I want to say that the pivot of that plan is private sector led recovery and a private sector led goal plan.

“So this forum is an important one for engendering the continuous engagement that this partnership will entail.’’

National News

Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

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Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

IPOB Leader, Nnamdi Kanu

A Federal High Court sitting in Abuja, Nigeria’s capital, is set to commence the trial of the leader of the Proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu.

The trial of the IPOB leader has been scheduled for November 26th and will see five prosecution witnesses lined up to testify against Kanu.

Also Read: Wike Ordered Police, Army To Kill IPOB Members, Nnamdi Kanu Alleges

This was disclosed in a hearing notice served on the prosecution team in the office of the attorney general and Kanu’s lawyer, Ifeanyi Ejiofor.

Kanu is facing charges bordering on treasonable felony instituted against him in response to years of campaign for the independent Republic of Biafra through IPOB.

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Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

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JUST IN: Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

Abdulrasheed Maina’s son

House of Representatives member, Umar Sani Dan Galadima has been asked to produce Faisal, the son of Abdulrasheed Maina, who is believed to have jumped bail on or before December 4.

Faisal is being prosecuted before the court on money laundering related offences and was granted bail in 2019.

Honorable Galadima who is representing Kaura Namoda Federal Constituency of Zamfara State is standing surety for Faisal after signing a N60 million bond.

Also Read: BREAKING: Court Fixes Date For Ndume’s Bail Application

Justice Okon Abang in a ruling on Wednesday ordered Dan Galadima, who was present in court, to show cause by December 4 why he should either not forfeit the N60 million he pledged while taking Faisal on bail, or be sent to prison until he is able to produce the defendant.

Recall that on Monday, Justice Abang sentenced Senator Ali Ndume who is a surety for the former Chairman of the defunct Pension Reform Task Team who has also jumped bail.

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Lawyer Dumps Maina, Applies To Quit Case

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Lawyer Dumps Abdulrasheed Maina, Applies To Quit Case

UpAbdulrasheed Maina

Adeola Adedipe, a lawyer hired by Abulrasheed Maina, ex-Chairman of defunct Pension Reform Task Team (PRTT), in his ongoing trial for money laundering, has applied to quit the case.

Maina’s lawyer who is also representing the company of the former PRTT Chairman – Common Input Property and Investment Ltd, informed a Federal High Court sitting in Abuja at the resumption of proceedings in the case on Wednesday, that he has filed a notice, indicating his intention to withdraw from further representing his client.

Also Read: Court Revokes Faisal Maina’s Bail For Failure To Attend Trial

Adedipe revealed that his brief has not been perfected due to the failure of his client to pay.

He apologised to the federal court presided over Justice Okon Abang for being absent from proceedings during some of the recent adjournments.

 

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