The Minister of Transportation,. Rotimi Amaechi, yesterday disclosed that the Federal Government has released its counterpart fund for the construction of the Lagos-Ibadan Mordernisation Railway Project.
The minister said this at the second presidential business forum which was presided over by Vice-President Yemi Osinbajo in Abuja.
He said the counterpart funding was released in full so that there would be no delay in the project implementation.
He also used the opportunity to appeal to the national assembly to approve the thirty billion dollars foreign loan request.
Meanwhile, the senate committee on aviation has urged agencies in the sector to be more transparent in their charges, as well as their procurement procedures and in implementation of projects in line with international best practices.
The committee also vowed to expose the cartel behind the lingering scarcity of aviation fuel which had crippled flight operations of many domestic airlines and left many air travellers stranded in recent times.