Nigeria signs $1.49 bln railway deal with China
Reuters) - Nigeria's government said on Wednesday it had signed a $1.49 billion contract with state-owned China Civil Engineering Construction Corp (CCECC) to build a railway between the commercial capital Lagos and Ibadan. Lagos, the heartbeat of
Africa's second largest economy, is around 130 km south of Ibadan, Nigeria's third largest city and a transit point between the coast and the north.
"(Cabinet) today approved the award of the Lagos-Ibadan standard gauge railway double track contract to CCECC in the sum of $1.487 billion ... with a completion period of 36 months," Minister of Transport Idris Umar told reporters.
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