INFRASTRUCTURE: LASG Partners Japanese Company For A $1bn Lekki Monorail

Mono railway

Lagos State Government on Monday disclosed its plan to construct a monorail that would link Marina, Ikoyi and Lekki, a project that would gulp $1 billion (about N300 billion).

The Commissioner of Economic Planning and Budget, Mr. Akinyemi Ashade, disclosed this alongside his information & strategy counterpart, Mr. Steve Ayorinde, and Permanent Secretary in the Ministry of Economic Planning & Budget, Mr. Kadiri Abayomi Adebisi, among others at a ministerial news conference to mark the first anniversary of the state governor, Mr. Akinwunmi Ambode, in office.

Ashade stated the Ambode administration had partnered the Japanese International Cooperation Agency (JICA) to invest in a possible monorail project that will link Marina to Oniru in Victoria Island and Ikoyi adding that a detailed feasibility study already been approved on the project.

“A detailed feasibility study has been commissioned on the monorail project to validate the initial survey, which will eventually lead to an investment of US$1 billion (about N300 billion) in the project if the results of the feasibility study are positive, amongst other conditions”, he said.