The Nigerian government has greenlit three major railway initiatives valued at approximately $2.99 billion, aiming to bolster infrastructure and stimulate economic activity in key urban areas. Finance Minister Taiwo Oyedele made the announcement after a Federal Executive Council meeting led by President Bola Tinubu at the Presidential Villa in Abuja.
These projects—the first phase of the Lagos Green Line rail, the Kano Metro City rail, and the Kaduna light rail—are designed to improve urban mobility, increase productivity, and enhance living standards, according to Oyedele. He emphasized that robust infrastructure is essential for economic progress and quality of life.
The chosen cities—Lagos, Kano, and Kaduna—were selected for their strategic importance as economic hubs where investments can yield maximum impact. Oyedele noted that a focused effort in these locations could achieve substantial results, comparing it to a scenario where ten percent effort yields ninety percent returns.
Funding for the projects will be managed by the Ministry of Finance Incorporated on behalf of the federal government, with contributions from counterpart funds. Oyedele, who recently succeeded Wale Edun, confirmed that the combined cost is estimated at $2.99 billion.
This approval highlights the administration’s commitment to prioritizing infrastructure development as a cornerstone of inclusive growth and sustainable urban transport systems.