Nigeria's Federal Executive Council has approved $874.3m towards the Nigerian Railways Modernisation Project.
The grant includes $84m (N12.3bn) for the railway track and signal network upgrade of the 488km Lagos-Jebba rail line, with work expected to finish in ten months.
The grant will also provide funds to buy and install one CNC Wheel Lathe Machine and related works for the railways, with work expected to finish in 30 weeks.
The grant also covers capital parts, consumables and tools for 25 C25-EMPD diesel engine locomotives.
The project covers the first segment of the modernisation work from Abuja to Kaduna. The plan for the second segment from Lagos to Ibadan will be presented to the council for approval shortly.
