The Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo, has approved the sum of $2,810,574,064.92 for the Ministry of Transportation to facilitate the procurement of rolling stocks.
The Minister of Transportation, Rotimi Amaechi, made it known that the approval was granted on Wednesday in Abuja.
Amaechi noted that the contract became necessary to enable hitch-free operations of the nation’s revamped rail system.
According to the minister: “I got an approval of the cabinet to procure rolling stocks, operational and maintenance equipment for the new railway projects corridors in Ibadan to Kano standard gauge and Port Harcourt to Maiduguri narrow gauge rail lines to the tune of $2,810,574,064.92, including 7.5 per cent tax.
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“Rolling stocks are consumables for the maintenance and operation of the railway. So, currently, anytime you hear of break down, which was discussed in the cabinet, it’s because maybe we have run out of rolling stock and we’ve also run out of stock for the railway.
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“So, with this, we will replace all the rolling stock. They are essentially the consumables we use to maintain the trains, coaches and locomotives,”
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