ate Government has sealed a $50million transportation deal with the International Finance Corporation (IFC) to develop two bus corridors between Abule-Egba-Command and lle Iwe-lle Epo.
The project is measuring eight kilometres and it is designed to ease the transportation challenges associated with the axis.
The state governor, Mr Babajide Sanwo-Olu disclosed this today.
According to him, “With the regular influx of people and businesses into Lagos state, our administration is constantly seeking ways of easing the transportation challenges that residents encounter by seeking developmental partnerships.
“To this end, the Lagos State Government is partnering with the International Finance Corporation (IFC) to develop two bus corridors within the Lagos state metropolis. This collaboration shall translate to increased access to public transportation and reduction in vehicle emissions in Lagos.”
Giving further details, the governor said: ” through this partnership, IFC shall be providing a $50 million local-currency loan to help Lagos finance, upgrade and operate two bus corridors, measuring eight kilometres, in the Abule-Egba-Command and lle Iwe-lle Epo communities, two of the most densely populated and congested parts of Lagos state.
“A big thank you to the IFC team, ably led by Ms. Linda Munyengeterwa, the Regional Industry Director of Infrastructure for Middle East and Africa for believing in, and keying into our T.H.E.M.E.S agenda. We hereby look forward to a mutually beneficial relationship.”