Japan To Invest $1bn In Lagos Monorail Project

The Lagos State Commissioner for Economic
Planning and Budget, Mr. Akinyemi Ashade on
Monday disclosed that France and Japanese
Governments will be investing the sum of $1
billion in the construction of mono rail project in
the State.
Disclosing this in Alausa during a
Ministerial press briefing in commemoration
of Lagos State Governor, Akinwunmi
Ambode’s first year in office, Ashade
explained that the continued increase in the
state population had put pressure on the
state government to partner other
governments in a bid to improve the
standard of living in the state.
According to Ashade, both countries had
earmarked the funds following the state
government’s previous achievements.
He said, “In a bid to expandi its development
partnership with the Lagos State Government in
urban mass transportation, Japanese
International Cooperation Agency, JICA will
commit the sum of $1billion to development of a
mono rail which will connect Marina to Victoria
Island and Ikoyi.
The Commissioner said the need for the project
was the outcome of the preliminary survey on
Mass Rapid Transit, MRT system in Lagos
metropolis conducted by JICA and Lagos
Metropolitan Transport Authority, LAMATA.