The Federal Executive Council, (FEC) in Nigeria has approved US $6.7bn for the construction of Ibadan-Kaduna rail project. The Minister of Transportation, Rotimi Amaechi, presented the project memo to FEC for approval.
While addressing State House correspondents after a meeting held inside the council chamber of the presidential villa, the Minister said that the rail project will cost US $6.7bn, with a completion period of three years.
According to, FCT minister, Mohammed Bello, FEC gave two approvals to the Federal Capital Territory. The first, he said, is the award of supply of chemicals to FCT water companies at the cost of US $767,021 and the reconstruction of Bill Clinton Drive, Airport road, which has started showing sign of failure after 20 years of service; at the cost of US $5.3m with seven months completion period.
China EXIM bank had also agreed to finance the Ibadan –Kano railway project.