By Clement John
ABUJA — The Federal Executive Council (FEC) has approved contracts worth about $2.99 billion for three major rail projects across Lagos, Kano and Kaduna, in a move aimed at strengthening infrastructure and driving economic growth.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday while briefing journalists after the fifth FEC meeting held at the Presidential Villa, Abuja, and presided over by President Bola Tinubu.
He said the projects are part of the Federal Government’s broader strategy to enhance productivity, improve urban mobility and raise living standards across key economic centres.
“We know that for economic development, you need infrastructure that works—one that enhances productivity and growth, and also improves the quality of life of the people,” Oyedele said.
The approved projects include Phase 1A of the Lagos Green Line rail, the Kano Metro City rail project, and the Kaduna light rail system.
According to the minister, the three cities were prioritised due to their strategic economic importance, noting that targeted investments in such hubs could deliver significant national impact.
“All cities are important, but these are places where relatively small efforts can yield substantial results,” he added.
Oyedele, who recently joined the cabinet following the resignation of former minister Wales Edun, said the projects would be financed through the Ministry of Finance Incorporated (MOFI) on behalf of the Federal Government, with provisions for counterpart funding.
He emphasised that the initiative underscores the government’s commitment to using infrastructure development as a catalyst for inclusive growth and improved transportation systems nationwide.
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