The
federal government has allocated the sum of N10 billion from its 2014
SURE-P budget as counterpart funding towards early completion of the
Abuja Rail Mass Transit project.
The
Minister of Federal Capital Territory (FCT), Senator Bala Mohammed,
made this known yesterday while presenting the FCT 2014 SURE-P budget to
the Senate Ad-Hoc Committee on SURE-P at the National Assembly.
The
minister said the total cost of the Abuja rail project, comprising
final design and construction of Lots 1 and 3 respectively, which is
approximately 60.67 kilometres, is US$823,540,545.87, and a completion
period of 36 months.
He
said the federal government had previously gotten a concessional loan
of US$500 million from EXIM Bank of China; leaving US$323,540,545.87 to
the Nigerian government as counterpart.
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