Market News

President Bola Tinubu has commissioned the Red Line Rail Mass Transit project in Lagos State, marking a significant milestone in the city’s transportation landscape. The inauguration ceremony took place Thursday, where President Tinubu was welcomed by Governor Babajide Sanwo-Olu, his wife, Ibijoke, the Deputy Governor, Obafemi Hazmat, state commissioners, and aides.

The Red Rail Line, spanning 37 km and boasting 13 stations, integrates major bus terminals at Oyingbo, Yaba, Oshodi, Ikeja, Ebute Metta, Iju, and Iddo, with a direct link to the international and domestic wings of the Murtala Muhammed Airport. Also, the project holds the capacity to transport an impressive 1.1 million people daily when fully operational.

In his address, President Tinubu shared insights into the transformative vision for Lagos. “My team and I toiled day and night to craft and implement a developmental vision that will transform Lagos into the economic powerhouse of Africa and a respected mega city on the global stage. We are realising that dream,” he said. “It is not a crime to dream big. Just stay focused and stay on course, particularly, make development the central fulcrum.”

Acknowledging the success of the Lagos Metropolitan Area Transport Authority (LAMATA), Tinubu praised the agency for its commitment and well-guided initiatives. “LAMATA has demonstrated that an agency can succeed and work for the people if guided with a vision and committed to a larger value. The history of Lagos will be written with you in gold,” he said.

Tinubu also highlighted the digital payment platform, a single unified system for ferry, rapid bus, and rail services. “Today, we are gathered for the inauguration of the second of the six rail lines planned as part of that launching, and I thank our political leaders present for believing in us and for lifting our spirits.”

Governor Sanwo-Olu, speaking at the launch, emphasized that the project aimed not only to enhance transit but also to reshape the urban landscape, setting a new pace for development. “The LMRT project is a beacon of progress, illuminating the path to a future where our city moves smoother, faster, and more efficiently,” he expressed.

“Embarking on the Lagos Mass Rail Transit (LMRT) project is more than just enhancing transit; it’s about weaving the fabric of our city into a tighter, more connected community,” Sanwo-Olu added. “Every track laid, every station built, brings us closer to a Lagos where distance no longer dictates destiny.”

Among the distinguished guests at the commissioning were Governors Usman Ododo (Kogi), Abiodun Oyebanji (Ekiti), Dapo Abiodun (Ogun), former Lagos Governor Akinwunmi Ambode, and other notable dignitaries.