By Emmanuel Ogbodo
The China Development Bank (CDB) has approved a $254.76 million (€245 million) loan to support the Kano-Kaduna railway project, ensuring steady progress in its construction.
In a statement on Tuesday, the CDB announced: “The bank has recently granted a loan of 245 million euros ($254.76 million), to the Kano-Kaduna railway project in Nigeria, providing financial support for the smooth progress of the project.”
The 203-kilometer standard-gauge railway will link Kano, a major commercial hub in northern Nigeria, to Abuja, the nation’s capital.
Upon completion, it is expected to enhance transportation, boost regional trade, and drive economic growth.
The project will also create jobs during both construction and operation phases.
The railway is part of Nigeria’s Belt and Road Initiative (BRI), partnership and is being constructed by China Civil Engineering Construction Corporation (CCECC), with financing from the CDB, following the withdrawal of China Exim Bank, the project’s initial financier.
The CDB reaffirmed its commitment to working with the Nigerian government to ensure timely fund disbursement and efficient project management, stating: “Going forward, it will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management.”
Meanwhile, President Bola Tinubu has reiterated his administration’s commitment to completing key rail projects, including the Ibadan-Abuja-Kaduna-Kano railway.
The Federal Government has allocated ₦44.4 billion in the 2024 budget for the Abuja-Kaduna railway, Lagos-Ibadan railway, and other ongoing rail projects.
Officials expect the Kano-Kaduna rail line to be completed by year-end.
