fbpx
  • About
  • Advertise
  • Contact
Somthing2Know
  • Home
  • News
    • All
    • Business
    • Education
    • Politics
    • World
    774,000 jobs will kick off on Tuesday, says Keyamo

    774,000 jobs will kick off on Tuesday, says Keyamo

    N-Power: Buhari orders increase of beneficiaries from 500,000 to 1m

    ‘FG Committed To Five #EndSARS Demands’: Buhari Woos Youths In New Year Speech

    World must be ready for the next pandemic – UN

    World must be ready for the next pandemic – UN

    Petrol to sell for N162.44 per litre as from December 14

    Petrol to sell for N162.44 per litre as from December 14

    Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

    Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

    Peter Obi proffers solution to endemic corruption

    Peter Obi proffers solution to endemic corruption

  • Politics
  • Sports
    Ronaldo Hoping To Play For ‘Many Years’ More

    Ronaldo Hoping To Play For ‘Many Years’ More

    Ronaldo’s sister posts picture of Messi worshipping Juventus star after his two goals against Barcelona

    Ronaldo’s sister posts picture of Messi worshipping Juventus star after his two goals against Barcelona

    Cristiano Ronaldo wins 2020 Golden Foot Award

    Cristiano Ronaldo wins 2020 Golden Foot Award

    Barcelona suffering worst run of form since 1987

    Barcelona suffering worst run of form since 1987

    WAFU U20: Cote d’Ivoire force Flying Eagles to 1-1 draw

    WAFU U20: Cote d’Ivoire force Flying Eagles to 1-1 draw

    Alex Iwobi starts for Everton against Burnley

    Alex Iwobi starts for Everton against Burnley

    My unbeaten Arsenal record means nothing —Mourinho

    My unbeaten Arsenal record means nothing —Mourinho

    Newcastle United target Fikayo Tomori loan move

    Newcastle United target Fikayo Tomori loan move

    Nigerian forward Junior Ajayi wins 2020 CAF Champions League title with Al Ahly

    Nigerian forward Junior Ajayi wins 2020 CAF Champions League title with Al Ahly

  • Entertainment
    • All
    • Movie
    • Music
    Wizkid Looked Unconcerned While Burna Boy And Davido Fought At Twist Night Club (Video)

    Wizkid Looked Unconcerned While Burna Boy And Davido Fought At Twist Night Club (Video)

    Teni: How i compose my songs

    Teni: How i compose my songs

    My wife, family planning to poison me over properties – Duncan Mighty

    My wife, family planning to poison me over properties – Duncan Mighty

    Why I rejected Ned Nwoko – BBNaija star, Princess

    Why I rejected Ned Nwoko – BBNaija star, Princess

    PHOTOS: See record breaking baby that is ’27 years old’ and just 18 months younger than her mum

    PHOTOS: See record breaking baby that is ’27 years old’ and just 18 months younger than her mum

    Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

    Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

  • Tech
    • All
    • Apps
    • Gadget
    Software Creator McAfee Arrested In Spain, Awaiting Extradition To US

    Software Creator McAfee Arrested In Spain, Awaiting Extradition To US

    Google launches Chromecast with Google TV

    Google launches Chromecast with Google TV

    Apple grants CEO Tim Cook first major stock package since 2011

    Apple grants CEO Tim Cook first major stock package since 2011

    Apple preparing 75 million 5G iPhones for later this year: Bloomberg

    Apple preparing 75 million 5G iPhones for later this year: Bloomberg

    Why Nigeria should embrace 5G network – Experts

    Why Nigeria should embrace 5G network – Experts

    Facebook says Apple ad-blocking settings could halve revenue

    Facebook says Apple ad-blocking settings could halve revenue

  • Business
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Education
    • Politics
    • World
    774,000 jobs will kick off on Tuesday, says Keyamo

    774,000 jobs will kick off on Tuesday, says Keyamo

    N-Power: Buhari orders increase of beneficiaries from 500,000 to 1m

    ‘FG Committed To Five #EndSARS Demands’: Buhari Woos Youths In New Year Speech

    World must be ready for the next pandemic – UN

    World must be ready for the next pandemic – UN

    Petrol to sell for N162.44 per litre as from December 14

    Petrol to sell for N162.44 per litre as from December 14

    Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

    Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

    Peter Obi proffers solution to endemic corruption

    Peter Obi proffers solution to endemic corruption

  • Politics
  • Sports
    Ronaldo Hoping To Play For ‘Many Years’ More

    Ronaldo Hoping To Play For ‘Many Years’ More

    Ronaldo’s sister posts picture of Messi worshipping Juventus star after his two goals against Barcelona

    Ronaldo’s sister posts picture of Messi worshipping Juventus star after his two goals against Barcelona

    Cristiano Ronaldo wins 2020 Golden Foot Award

    Cristiano Ronaldo wins 2020 Golden Foot Award

    Barcelona suffering worst run of form since 1987

    Barcelona suffering worst run of form since 1987

    WAFU U20: Cote d’Ivoire force Flying Eagles to 1-1 draw

    WAFU U20: Cote d’Ivoire force Flying Eagles to 1-1 draw

    Alex Iwobi starts for Everton against Burnley

    Alex Iwobi starts for Everton against Burnley

    My unbeaten Arsenal record means nothing —Mourinho

    My unbeaten Arsenal record means nothing —Mourinho

    Newcastle United target Fikayo Tomori loan move

    Newcastle United target Fikayo Tomori loan move

    Nigerian forward Junior Ajayi wins 2020 CAF Champions League title with Al Ahly

    Nigerian forward Junior Ajayi wins 2020 CAF Champions League title with Al Ahly

  • Entertainment
    • All
    • Movie
    • Music
    Wizkid Looked Unconcerned While Burna Boy And Davido Fought At Twist Night Club (Video)

    Wizkid Looked Unconcerned While Burna Boy And Davido Fought At Twist Night Club (Video)

    Teni: How i compose my songs

    Teni: How i compose my songs

    My wife, family planning to poison me over properties – Duncan Mighty

    My wife, family planning to poison me over properties – Duncan Mighty

    Why I rejected Ned Nwoko – BBNaija star, Princess

    Why I rejected Ned Nwoko – BBNaija star, Princess

    PHOTOS: See record breaking baby that is ’27 years old’ and just 18 months younger than her mum

    PHOTOS: See record breaking baby that is ’27 years old’ and just 18 months younger than her mum

    Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

    Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

  • Tech
    • All
    • Apps
    • Gadget
    Software Creator McAfee Arrested In Spain, Awaiting Extradition To US

    Software Creator McAfee Arrested In Spain, Awaiting Extradition To US

    Google launches Chromecast with Google TV

    Google launches Chromecast with Google TV

    Apple grants CEO Tim Cook first major stock package since 2011

    Apple grants CEO Tim Cook first major stock package since 2011

    Apple preparing 75 million 5G iPhones for later this year: Bloomberg

    Apple preparing 75 million 5G iPhones for later this year: Bloomberg

    Why Nigeria should embrace 5G network – Experts

    Why Nigeria should embrace 5G network – Experts

    Facebook says Apple ad-blocking settings could halve revenue

    Facebook says Apple ad-blocking settings could halve revenue

  • Business
  • World
No Result
View All Result
Somthing2Know
No Result
View All Result
Home News Business

Lagos sets 2022 target for Marina-Mile 2 rail operations

The Lagos state government says it has partnered with the federal government on rail construction to diversify the mode of transportation.

Nathaniel by Nathaniel
December 2, 2020
in Business
3 min read
0 0
0
Lagos sets 2022 target for Marina-Mile 2 rail operations
0
SHARES
10
VIEWS
Share on FacebookShare on TwitterSend to WhatsApp

The Lagos state government says it has partnered with the federal government on rail construction to diversify the mode of transportation.

Addressing journalists at a media roundtable during the weekend, Frederic Oladeinde, the commissioner for transport, explained that the first 12km of the Blue Line rail project -which stretches from Marina to Mile 2- will become operational in 2022.

RelatedPosts

Petrol to sell for N162.44 per litre as from December 14

Petrol to sell for N162.44 per litre as from December 14

December 9, 2020
Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

Apple launches $549 new AirPods Max to boost holiday sales; delivery times face delays

December 9, 2020
Yam Price Crashes With New Harvests In Plateau

Yam Price Crashes With New Harvests In Plateau

October 7, 2020

The roundtable, which was organised by the Cyno Group and themed ‘Impact of the 2021 LASG Budget Proposal on the Economy and Youth Empowerment’, was also attended by Folashade Adefisayo, commissioner for education; Abisola Olusanya, commissioner for agriculture; Rabiu Olowo, commissioner for finance; Sam Egube, commissioner for economic planning and budget; Olatunbosun Alake, special adviser on innovation and technology; and Aramide Adeyoye, special adviser on works and infrastructure.

“From Mile 2 to Marina takes about two hours right now, by the time we implement that it will take 30 minutes,” Oladeinde said.

“The Red Line is also a very important project which this government has embarked on. It’s very important because that corridor caters for about a million trips and with the fact that the federal government is building that corridor to actually develop the Lagos-Ibadan rail line, the Lagos state government saw the advantage in collaborating with the federal government in sharing that corridor.

“And so we have signed the sharing agreement, all negotiations have been done, the Lagos state government will be adding some more stations. The federal government are developing three stations, that’s Ebute Metta, Iju, and Agbado.

“Lagos state will be incorporating Oyingbo, Ikeja, Yaba, and some other stations just to be sure we are able to move people from Agbado to Oyingbo in 30-35 minutes rather than the 2-4 hours that people are experiencing right now.

“And once that Red Line is completed, it will be able to cater for 450,000 passengers per day. That line will eventually end up in Marina, but the first stage is to develop Agbado-Oyingbo section.”

The commissioner said the state government is open to private sector investment to develop the Green Line (Marina to Lekki Free Trade Zone), Orange Line (Ikeja to Agbowa), Yellow Line (Ota to National Theatre) and Purple Line (Redeemed to LASU) while a monorail would be constructed for Ikoyi and Victoria Island.

Oladeinde also explained that the state government will demolish more roundabouts and junctions to reduce traffic time and solve the problem of traffic congestion.

“You will discover that most of our roundabouts are now bottlenecks, rather than solving problems they are now creating problems,” he said.

“What the current administration has done is to locate all the 60 gridlock points, that is the roundabouts and junctions that are causing problems and what we are doing is to reconfigure most of them.”

Using Allen Roundabout as an example, the commissioner said similar structures at Abraham Adesanya and Lekki have also been removed, will be replaced with traffic lights to ease traffic.

In his remarks, Rabiu Olowo, the Lagos state commissioner for finance, said the state has saved N15 billion from restructuring its debt and assured that the state will not plunge into a debt crisis.

Lagos, Nigeria’s commercial capital, records the highest internally generated revenue (IGR) in the country and it also holds the biggest debt burden.

“We have successfully restructured all existing internal loans. At a time they were hovering around 20 per cent and the first phase of restructuring brought interest on those loans down to 14 percent. With the current economic reality, we went into negotiation with our financial institutions to bring down the interest payment,”

“Once you are able to save money from debt service obligation, you are able to deploy more funds to provide more infrastructure such as roads, health, and youth empowerment, among others.

“Today, our existing loan payment interest is at 12 per cent and this has brought about N15 billion in terms of cost-saving.”

Olatunbosun Alake, special adviser to the Lagos state governor on innovation and technology, said the government is working on installing 6,000km of fibre optic cables in two phases.

This, he said, will eliminate issues of right-of-way and road digging for telcos and internet service providers.

Alake said public schools, health centres, and all government offices and parastatals will be connected to the fibre optic.

ShareTweetSend
Previous Post

World AIDS Day: Minister urges women to go for regular HIV

Next Post

Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

Nathaniel

Nathaniel

Next Post
Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

Tope Alabi’s daughter attacked after denouncing dad…declares love for step-dad

Newcastle United target Fikayo Tomori loan move

Newcastle United target Fikayo Tomori loan move

Insecurity: Senator Okorocha advises President Buhari to sack everyone working with him

Insecurity: Senator Okorocha advises President Buhari to sack everyone working with him

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

774,000 jobs will kick off on Tuesday, says Keyamo

774,000 jobs will kick off on Tuesday, says Keyamo

January 4, 2021
N-Power: Buhari orders increase of beneficiaries from 500,000 to 1m

‘FG Committed To Five #EndSARS Demands’: Buhari Woos Youths In New Year Speech

January 2, 2021
Ronaldo Hoping To Play For ‘Many Years’ More

Ronaldo Hoping To Play For ‘Many Years’ More

January 2, 2021

Newsletter Subscription!

Now you don't have to worry about missing out on the important news of the day.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing! Please check your email for further instructions.
Somthing2Know

We are a modern Nigerian digital media platform. We select and emphasise the vital information, that is interesting, entertaining and useful across the web.

Browse by Category

Recent News

774,000 jobs will kick off on Tuesday, says Keyamo

774,000 jobs will kick off on Tuesday, says Keyamo

January 4, 2021
  • Terms
  • Disclaimer
  • Privacy Policy

© 2020 Somthing2know

No Result
View All Result
  • Home
  • News
  • Politics
  • Sports
  • Entertainment
  • Tech
  • Business
  • World

© 2020 Somthing2know

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In