Nigeria has successfully secured $1.3 billion in financing to finalize a pivotal railway initiative linking Kano, the largest city in the north, to Maradi in Niger, announced the transport ministry on Wednesday.
This railway endeavor aims to bolster existing economic and social bonds, fostering enhanced trade and cultural collaboration between the two nations.
The funding is orchestrated through a consortium spearheaded by the China Civil Engineering Construction Company (CCECC), which pledges 85% of the total investment, according to a statement from the transport ministry. The Nigerian government, along with entities like the Africa Export-Import Bank and African Development Bank, will cover the remaining 15%.
Jamilu Ja’afaru, spokesperson for the transport ministry, emphasized, “The attainment of $1.3 billion marks a significant stride toward completing this crucial infrastructure.”
In a separate development, in July, Mota-Engil, Portugal’s largest construction firm, inked an 840 million-euro ($919 million) agreement to furnish and finance railway rolling stock for the project.
Nigeria’s government endeavors to revitalize the underprivileged northern regions, which have endured a decade of turmoil from Islamist insurgents.
This rail initiative is part of a broader governmental strategy to establish extensive rail networks across Nigeria, addressing longstanding deficiencies in transport infrastructure that have impeded economic progress for decades.
