Lagos-Kano/Port Harcourt- Maiduguri Rail Concession to Fetch FG $2bn

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rotimi-amaechiThe concession of the Lagos-Kano/Port-Harcourt-Maiduguri rail line is expected to fetch the federal government a whooping sum of $2 billion.
This was disclosed by the Minister of Budget and National Planning, Senator Udoma Udo Udoma Monday.
According to him, the federal government was discussing with the General Electric, GE, to take over the rail line as part of the efforts to multiply revenue sources to fund the budget, THISDAY reported.
Udoma was reported saying that the GE had already committed to bring in $2 billion into the concession arrangement.
He said that the federal government was working in all fronts to get the economy back on track, including getting oil production back, asset sales and concession.
Udoma further explained that the concessionaire was expected to revamp the rail lines, revamp them and build coaches in the country, reported THISDAY.

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