The federal executive council (FEC) has approved $2.81 billion for the procurement of rolling stocks and maintenance equipment for rail lines.
The equipment is for the Ibadan to Kano and Port Harcourt to Maiduguri rail lines.
This was revealed by the minister of transportation, Rotimi Amaechi, who announced this to state house correspondents at the end of the FEC meeting presided over by Vice-President Yemi Osinbajo on Wednesday.
He said the rolling stock would ensure that the trains, coaches and locomotives are adequately maintained.
According to him, “I have 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,” he said.
“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.
“So, with this, we will replace all the rolling stock. They are essentially the consumables we use to maintain the trains, coaches and locomotives.”