LAMATA Moves Closer to Securing AfDB Financing for Lagos Green Line Rail Project
Lagos Metropolitan Area Transport Authority (LAMATA), in collaboration with the Ministry of Finance Incorporated (MOFI), has taken a significant step toward securing financing from the African Development Bank (AfDB) for the Lagos Rail Mass Transit (LRMT) Green Line project following a high-level stakeholder engagement held in Lagos.
The meeting brought together representatives of the Lagos State Government, the Federal Government, the African Development Bank, development partners, and other key stakeholders to review the project’s implementation framework, financing structure, and institutional readiness.
The engagement is part of the due diligence process required for the AfDB’s consideration of funding support for the Green Line, a strategic rail corridor expected to connect Marina to the Lekki Free Trade Zone, easing traffic congestion and improving mobility along one of Lagos’ fastest-growing economic corridors.
Stakeholders reaffirmed their commitment to ensuring the project’s bankability by strengthening governance, technical planning, environmental and social safeguards, and financial sustainability.
Speaking at the engagement, officials emphasized that the Green Line is a critical component of Lagos’ integrated transport master plan and is expected to boost economic activities, reduce travel time, lower transportation costs, and support sustainable urban development.
The collaboration between LAMATA and MOFI is aimed at meeting the requirements for AfDB financing while leveraging public and private sector participation to accelerate the delivery of the rail infrastructure.
Once completed, the LRMT Green Line will complement the existing Blue and Red Rail Lines, expanding Lagos’ mass transit network and providing residents with a more efficient, reliable, and environmentally friendly transportation system.
