FG Gets $1.3bn Boost for Rail Project Linking Kano, Katsina, Jibiya and Maradi

• The Ministry of Transportation has obtained $1.3 billion to complete the Kano-Katsina-Jibiya-Maradi railway project.
• This financial allocation represents a major step forward in finalising this crucial infrastructure, bolstering the socio-economic connections between Nigeria and Niger.
• Reportedly, the China Civil Engineering Construction Company (CCECC) is set to cover 85 percent of the funding, while the Nigerian government will contribute the remaining 15 percent.

Legit.ng journalist Segun Adeyemi has over 9 years of experience covering political events, civil societies, courts, and metro

FCT, Abuja - The Ministry of Transportation has secured $1.3 billion to finish the Kano-Katsina-Jibiya-Maradi rail project.

This funding marks a significant advancement in completing this vital infrastructure, enhancing the socio-economic bonds between Nigeria and Niger.

Minister of Transportation, Senator Said Ahmed Alkali, revealed this achievement in Abuja, stating that 85 per cent of the funds will be provided by the China Civil Engineering Construction Company (CCECC), with the Nigerian government contributing the remaining 15 per cent.

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As quoted by ThisDay, a statement released stated that:

“The Kano-Katsina-Jibiya-Maradi rail line is a testament to our shared history and ambition for economic advancement. It will create a lasting legacy of wealth and opportunities for Nigeria and the Niger Republic.

“As the project advances, the Nigerian Government remains dedicated to realising a vision of progress and unity.

The Ministry of Transportation will continue to provide updates on this transformative venture, marking each achievement as we journey towards a brighter and more connected future.”

AfDB backs rail line project

Similarly, Mr. Fidet Okhiria, the Managing Director of the Nigerian Railway Corporation, and Alh. Muhammad Abdulrazak, a Senior Director at the African Development Bank (AfDB), expressed support for the project, viewing it as a driver for positive change, promoting economic growth, and enhancing regional cooperation.

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During the interactive session, Mohammed Abdul-Razaq, Senior Vice President of Africa Finance Corporation, revealed that a consortium of banks, including the African Development Bank, Africa Export-Import Bank (Afrexim), Development Bank of Southern Africa, African Finance Bank, Rand Merchant Bank, and China Construction Bank, have expressed interest in financing the project to ensure its completion within the proposed timeframe.

He stated that the team conducted thorough discussions with several government officials, including the Ministers of Finance, Environment, Mines, and Steel Development, as part of their assessment process. They recently returned to Abuja after visiting the project sites to verify their gathered information.

Additionally, he mentioned that the Ministry conducted an environmental and social impact assessment through the Federal Ministry of Environment before starting the project.

The Ministry received and approved the report before work began.

Tinubu inaugurates Lagos red line rail

Meanwhile, the Red Line Rail Project in Lagos, Nigeria, is a crucial infrastructure initiative that enhances urban transportation.

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With President Bola Tinubu set to launch the project, it symbolizes a resurgence of hope under his leadership.

Nevertheless, Legit.ng reeled out valuable insights into the various noteworthy elements of the new rail line.

Source: Legit.ng