In a step forward for the completion of the critical Kano-Katsina-Jibiya-Maradi railway project, the Nigerian Ministry of Transportation has secured a staggering $1.3 billion in funding from the China Civil Engineering Construction Company (CCECC).
This significant investment will not only strengthen socio-economic ties between Nigeria and the Niger Republic but also serve as a vital component of President Tinubu’s Renewed Hope Agenda.
The project, which follows an Engineering, Procurement, Construction, and Financing (EPC-F) model, is set to enhance regional trade, community development, and cultural exchange.
The Nigerian government will provide 15% of the funding, while the CCECC will contribute the remaining 85%.
This collaboration with China is a testament to the shared history and ambition for economic advancement between the two nations.
During a recent visit by Mr. Tang Zhigang, Chairman of the Supervisory Board of the China Export and Credit Insurance Corporation, and his delegation, optimism for the rail project’s potential to lay the groundwork for future prosperity between Nigeria and the Niger Republic was further bolstered.
The Kano-Katsina-Jibiya-Maradi rail line will create a lasting legacy of wealth and opportunities for both countries.
As the project advances, the Nigerian government remains dedicated to realizing a vision of progress and unity.
The Ministry of Transportation will continue to provide updates on this transformative venture, marking each achievement as the country journeys towards a brighter and more connected future.
In a show of support, the Managing Director of the Nigerian Railway Corporation, Mr. Fidet Okhiria, and Senior Director with the African Development Bank (AfDB), Alh. Muhammad Abdulrazak, both endorsed the project, describing it as a catalyst for positive change, fostering economic growth and regional cooperation.
A consortium of banks, including the Africa Development Bank, Africa Export-Import Bank (Afrexim), Development Bank of Southern Africa, African Finance Bank, Rand Merchant Bank, and the China Construction Bank, has expressed interest in providing the funds that will facilitate the completion of the project within the proposed timeline.
As part of their due diligence process, the team has embarked on a series of interactive engagements with the Ministers of Finance, Environment, Mines and Steel Development, as well as site visits to corroborate received reports.
Before the physical work on the project could commence, the Federal Ministry of Environment had carried out an environmental social impact assessment, and the ministry has been given the report and approval.
The successful completion of the Kano-Katsina-Jibiya-Maradi railway project will undoubtedly pave the way for increased economic prosperity and connectivity in Nigeria and the Niger Republic, reinforcing President Tinubu’s Renewed Hope Agenda and strengthening the bond between the two nations.
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