FEC approves $1.488b for Lagos-Ibadan rail project

The Federal Executive Council (FEC) yesterday approved 1.488 billion dollars for the Lagos-Ibadan double track rail line project.
Minister of Information Labaran Maku spoke with reporters on the outcome of the weekly FEC meeting, presided over by President Goodluck Jonathan, at the Presidential Villa, Abuja.
He said the approval followed a memorandum to the Council on the rail project.
The minister noted that the project was in 2006 awarded to CCECC Ltd, a Chinese firm, but could not be completed due to lack of funds.
Maku said the project would be executed in six phases to cover 2,733 kilometres.