Day: 5 March 2024

INAUGURATION OF A LIGHT RAIL PROJECT BUILT BY CHINA IN LAGOS STATE, NIGERIA

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“The first phase of China’s state-of-the-art light rail project in Lagos State, southwest Nigeria, was inaugurated on Thursday by President Bola Tinubu, marking a new chapter in the fight against traffic congestion and delays in commuting that have long hindered the country’s economic prowess. The transformative Lagos Rail Mass Transit (LRMT) Red Line project, undertaken by the China Civil Engineering and Construction Corporation (CCECC) in 2021, spans 26.5 kilometers and comprises eight stations. Speaking at the handover ceremony in Ikeja, the capital of Lagos State, Mr. Tinubu described the project…

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Building a Strong Foundation for Urban Mobility in Africa: Lessons from Urban Transport Authorities

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Sub-Saharan Africa stands at a critical juncture, with its cities expanding at an unprecedented rate due to rapid urbanization. This surge in urban populations underscores the urgent need for efficient, well-coordinated transport systems. Acknowledging this critical need, the Africa Transport Policy Program (SSATP) embarked on an in-depth exploration of seven urban mobility organizing authorities within the region, aiming to illuminate both the challenges they face and the successes they’ve achieved. Navigating the Maze: The Quest for Coordination In many African cities, multiple agencies at different levels of government are responsible…

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African Development Bank approves $150 million Regional Trade Finance Unfunded Risk Participation Agreement facility for Eastern and Southern African Trade & Development Bank (TDB)

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The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa, in line with the aspirations of the African Continental Free…

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