RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home

FG flags off $3 billion rail project that will connect about 14 Southern, Northern states

Rate Captain by Rate Captain
March 15, 2021
in Business, Politics
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Federal Government has kickstarted a $3 billion rehabilitation and reconstruction of the Eastern Railway line that links major cities across the country.

The rail line is expected to move from Bonny Ports to Port Harcourt in Rivers State and when completed would connect Rivers, Abia, Imo, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Kaduna, Bauchi, Gombe, Yobe and Borno States by rail.

AlsoRead

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

The project which marks the latest step in an ambitious plan to create a nationwide rail network intended to help accelerate Nigeria’s economic diversification plan away from crude oil, will involve the revamping of a dilapidated 1,443-kilometer (897-mile) line that starts from the southeastern oil hub of Port Harcourt and terminates at the northeastern city of Maiduguri.

President Muhammadu Buhari at the virtual flag-off of the project said, ‘’The contract has the objective of resuscitating the once vibrant railway transportation in the eastern corridor of the country.’’

The project which will see the South Eastern states connected to the rail line will be executed by the Nigerian subsidiary of state-owned China Civil Engineering Construction Corp.(CCECC) as the main contractor.

The Minister for Transportation, Rotimi Amechi, at the ceremony said that the Federal Government is expected to provide about 15% of the $3 billion costs of the rehabilitation and reconstruction of the Port Harcourt-Maiduguri rail line while the outstanding balance will be coming from a syndicate of Chinese financiers.

Previous Post

Brain drain: UK restricts recruitment of Nigerian doctors, others

Next Post

Buhari receives Okonjo-Iweala in Aso Villa

Related News

NGX Fines Banks N76.8 Million for Late Financial Reporting

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

by Victoria Attah
September 29, 2026
0

Nigeria’s capital market regulators have scored a significant enforcement win after a Federal High Court in Nasarawa State convicted 21...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

by Jide Omodele
September 17, 2026
0

The Nigerian Exchange recorded turnover of 662.35 million shares on Wednesday, 16 September 2026, as investors kept up strong activity...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

by Victoria Attah
September 8, 2026
0

Nigeria’s merchandise trade surplus more than doubled to N12.60 trillion in the second quarter of 2026, driven by stronger exports...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

by Jide Omodele
August 17, 2026
0

The Nigerian Exchange has postponed the introduction of its revised pricing methodology for equities trading, one day before the new...

Next Post

Buhari receives Okonjo-Iweala in Aso Villa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Leading Banks Struggle with Capital Deficits: Zenith Bank and Others Strive to Meet CBN Standards

Banks Hold Off on Lowering Loan Rates Nearly a Week After CBN’s 350-Point Cut

September 29, 2026
Debunking the Fuel Scarcity Myth and Its Impact on Financial Wellness

Dangote Refinery Lifts Petrol Output as Nigeria’s Fuel Imports Drop Sharply

September 29, 2026

Popular Story

  • Debunking the Fuel Scarcity Myth and Its Impact on Financial Wellness

    Dangote Refinery Lifts Petrol Output as Nigeria’s Fuel Imports Drop Sharply

    0 shares
    Share 0 Tweet 0
  • Ways and Means Debt Records First Drop as Moratorium Ends

    0 shares
    Share 0 Tweet 0
  • Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

    0 shares
    Share 0 Tweet 0
  • Banks Hold Off on Lowering Loan Rates Nearly a Week After CBN’s 350-Point Cut

    0 shares
    Share 0 Tweet 0
  • Help Keep Knowledge Free: Wikipedia Launches Urgent Appeal for Support

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>