The Central Bank of Nigeria (CBN) on Thursday said it is financing the Lagos State blue line rail project with a total of N110 billion under its Real Sector Support Facility (RSSF) Differentiated Cash Reserve Requirement (DCRR) intervention fund.
Already, the CBN has provided N60 billion out of which N45 billion has been disbursed and N50 billion will be made available in the second tranche.
Yusuf Philip Yila, director, development finance department of the CBN made this known during a tour of the blue line rail project in Marina Lagos.
The blue line rail project, which is currently under construction by the Lagos State Government, through the Lagos Metropolitan Area Transport Authority (LAMATA) is expected to be completed in the last quarter of 2022.
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