The African Export-Import Bank (Afreximbank) and Access Bank are nearing the finalization of a funding agreement with the Lagos State Government to complete Phase 2 of the Lagos Blue Line.
The Lagos Metropolitan Area Transport Authority (LAMATA) announced this development in a statement on their official X (formerly Twitter) account on Saturday.
The statement noted that Mr. Eric Intong, Afreximbank’s Abuja Regional Chief Operating Officer, and Mr. Lookman Martins from Access Bank, accompanied by officials from the Lagos State Government, visited the Blue Line Phase 2 project site on Friday.
The representatives of the banks assessed the project’s potential and expressed satisfaction with the ongoing plans.
The statement also highlighted that necessary paperwork for the project is close to being finalized and may be signed by the Lagos State Government in the next few weeks.
Furthermore, it mentioned that construction activities on the project are anticipated to accelerate significantly in the coming weeks.