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The Lagos State Commissioner for Economic Planning, Akinyemi Ashade yesterday, informed newsmen that Japanese International Cooperation Agency (JICA) is proposing to inject $1 billion into a monorail project in the state.

The purpose of this is to enhance robust mass transportation system in the state.

According to the commissioner, this particular project came into existence after JICA had carried out a survey on Mass Rapid Transit (MRT) in the Lagos metropolis and its environs.

Ashade was quick to note that the “JICA Monorail Project” is not the Lagos Blue Line Rail Project which is on-going.

He said the Blue Line Rail project will connect Mile 12 to CMS, and the Red Line Rail Project.

According to the commissioner: “Traditionally, JICA has supported the state with interventions targeted at areas relating to health. However, over the past year, JICA signified its intention to provide interventions in areas other than health, including urban mass transportation.

“Consequently, JICA conducted a survey on Mass Rapid Transit (MRT) in the Lagos metropolis with a view to providing the state with a loan to finance the development of a monorail project within the Lagos metropolis.

A detailed feasibility study has been commissioned on the monorail project to validate the initial survey, which will eventually lead to an investment of $1 billion in the project if the results of the feasibility study are positive.”

The Japanese International Cooperation Agency (JICA) has been doing business in Nigeria for quite a while now:

  • In 2015, JICA conducted a Comprehensive Power Sector Master Plan Study in Nigeria
  • Last January, JICA and the Federal Ministry of Agriculture organized a workshop and demonstration on paddy grading standard
  • In March 2016, there was the South-South Cooperation between Nigeria and Tanzania on the Implementation of 5S-KAIZEN-TQM at the Health Facilities in Nigeria

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.


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