The Federal Executive Council (FEC) has given approval for contracts valued at $2.99 billion to support three major rail projects across Lagos, Kano, and Kaduna states.
Taiwo Oyedele, minister of finance and coordinating minister of the economy, disclosed this to State House correspondents after the council’s weekly meeting held in Abuja on Thursday. He said the decision reflects the federal government’s resolve to invest in infrastructure that boosts productivity, strengthens economic expansion, and improves living standards.
Oyedele also revealed that the council set up a presidential task force on the power sector, which will be led by President Bola Tinubu.
“Council today approved the award of contracts for three transformative rail projects. One is the Lagos green line rail project, phase one,” the minister said.
“The second is the Kano state metro city rail project. And the third is the Kaduna state light rail project,” he said.
He explained that the projects will be financed through the ministry of finance incorporated (MOFI) on behalf of the federal government, alongside contributions from other funding sources.
According to the minister, the rail schemes are expected to improve transportation within major urban centres and support economic activities.
Oyedele described Lagos, Kano, and Kaduna as strategic cities where focused investments can yield significant impact.
“These three cities are very important and critical. All cities are important, but this is where you have your 10 percent effort yielding 90 percent results,” he said.
He further noted that the Lagos green line ranks among the most anticipated components of the state’s rail network. The route is planned to extend from Marina on Lagos Island through the Lekki corridor, which ranks among the busiest commercial and residential areas in sub-Saharan Africa, and continue beyond.
The Kano metro rail and the Kaduna light rail projects are also designed to serve key northern cities. The projects aim to reduce traffic congestion and enhance commercial activities in those areas.
