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President Tinubu borrows $1.3bn for completion of Kano-Maradi railway project
Assuring Nigerians of the Ministry’s dedication to realizing a vision of progress and unity, he further promised that the Ministry would continue to provide updates on this transformative venture, marking each achievement as we journey towards a brighter and more connected future.
The Federal Government has announced a major milestone in the financing of the Kano-Katsina-Jibiya-Maradi Railway Project.
This, the Minister of Transportation, Senator Said Ahmed Alkali, disclosed that the Ministry has secured about $1.3 billion, which signifies a monumental step forward in the completion of this critical infrastructure.
This came after a consortium of financial institutions expressed interest in providing the Government with the funds that would facilitate and produce the needed outcome for the completion of the 284 +103km Kano-Maradi rail project.
Speaking in a statement signed by the Special Assistant, (Public Affairs) to the Minister, Jamilu Ja’afaru, the Minister said: “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.”
He noted that the project is poised to strengthen the socio-economic ties between Nigeria and the Niger Republic.
According to him, this rail link, a key component of President Tinubu’s Renewed Hope Agenda, is set to enhance regional trade, community development, and cultural exchange, aligning with the administration’s unwavering commitment to national development and a more interconnected African continent.
The Managing Director of the Nigerian Railway Corporation, Mr. Fidet Okhiria, and Alh. Muhammad Abdulrazak, a senior director with the African Development Bank (AfDB), both endorsed the project as a catalyst for positive change, fostering economic growth and regional cooperation.
Also, some of the partners such as Mr. Tang Zhigang, Chairman of the Supervisory Board of the China Export and Credit Insurance Corporation, and his delegation, who recently visited, further expressed optimism for the rail project’s potential to lay the groundwork for future prosperity between the two nations.
Assuring Nigerians of the Ministry’s dedication to realizing a vision of progress and unity, he further promised that the Ministry would continue to provide updates on this transformative venture, marking each achievement as we journey towards a brighter and more connected future.
