The House of Representatives, Tuesday urged the executive arm of the federal government to reverse its earlier decision on the East-West coastal rail project by continuing its implementation, considering its economic importance to the nation.
The House has also urged the government to review its 25-year Railway Strategic Plan, part of which is to unbundle and commercialise the Nigeria Railway Corporation (NRC).
It further mandated its Committee on Land Transportation to liaise with Federal Ministry of Transportation and other relevant government agencies to ensure that the East-West Coastal Rail Project is captured in the 2023 budget estimates.
This followed the adoption of a motion on “Need to Continue the East–West Rail Line Project”, sponsored by Hon. Dozzie Ferdinad Nwanko, who recalled that the Federal Executive Council (FEC) had, in April 2017, granted approval for the construction of 1,400km Standard Gauge East-West Coastal Rail Line linking Lagos-Ore-Benin-Sapele-Warri-Yenagoa-PortHarcourt-Aba-Uyo-Calabar-Akamkpa-Ikom with a branch line from Benin to Asaba-Onitsha-Port Harcourt-Onne Deep Seaport.
He noted that the opting out of Exim Bank of China, the contractor to execute the project, the federal government, in March 2021, made arrangements for $11 billion alternate counterpart funding with Standard Chartered Bank out of the $14.4 billion required to execute the project, adding that in August 2021, the FEC approved the award of a contract valued at $11.175 billion.
