FG Secures $1.3bn Chinese Loan to Complete Kano-Katsina Rail Project
TINUBU
By Our Reporter
The federal government has secured the sum of $1.3 billion loan from China to complete the Kano-Katsina-Jibiya-Maradi rail project.
This was announced by the Minister of Transportation, Senator Said Ahmed Alkali, who described it as a major milestone in the financing of critical infrastructure.
The Minister in a statement said that the China Civil Engineering Construction Company (CCECC) is expected to provide 85 per cent of the loan while the remaining 15 per cent would be provided by the Nigerian government.
Part of the statement issued by the Special Assistant (Public Affairs) to the Minister, Jamilu Ja’afaru, said, ” 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 recent visit by Mr. Tang Zhigang, Chairman of the Supervisory Board of the China Export and Credit Insurance Corporation, and his delegation, has further bolstered optimism for the rail project’s potential to lay the groundwork for future prosperity between the two nations.
“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.”
The federal government has secured the sum of $1.3 billion loan from China to complete the Kano-Katsina-Jibiya-Maradi rail project.
This was announced by the Minister of Transportation, Senator Said Ahmed Alkali, who described it as a major milestone in the financing of critical infrastructure.
The Minister in a statement said that the China Civil Engineering Construction Company (CCECC) is expected to provide 85 per cent of the loan while the remaining 15 per cent would be provided by the Nigerian government.
Part of the statement issued by the Special Assistant (Public Affairs) to the Minister, Jamilu Ja’afaru, said, ” 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 recent visit by Mr. Tang Zhigang, Chairman of the Supervisory Board of the China Export and Credit Insurance Corporation, and his delegation, has further bolstered optimism for the rail project’s potential to lay the groundwork for future prosperity between the two nations.
“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.”
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