The Lagos State government is looking for investors to commit N94.4 billion (US$787 million) towards the development of a rail transportation system.

According to Governor Babatunde Fashola investors can reap huge rewards from the project. He said studies have shown that investors can make an annual revenue of N48 billion (US$400 million) by investing N94.4 billion into the rail project.

Other investment opportunities in Lagos State's transport infrastructure are for the development of a bus rapid transit (BRT) system and a water transportation system. Fashola said a N12 billion (US$100 million) investment in the BRT system could yield annual profits of N6 billion (US$50 million). Four water transport routes have also been identified and according to the governor it will have a projected yearly revenue of N4.4 billion (US$37 million).

Fashola invited local and foreign investors to take advantage of these opportunities.