Nigeria secures $254mn Chinese bank loan for Kano-Kaduna railway project

The Nigerian government has secured the approval of $254.76 million loan from China Development Bank (CDB) to fund the construction of 203 kilometers Kano-Kaduna railway project.

Announcing the approval of the loan in a statement recently, the bank noted that the project, once completed, will provide direct rail connectivity between Kano and the country’s capital Abuja, offering residents a safe, efficient, and convenient mode of transportation, China Daily reported Wednesday.

The Kano-Kaduna railway project was first launched by former president Muhammadu Buhari in July 2021 in Kano state, as a segment of the Lagos – Kano railway modernization project.

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According to the bank, the Kano-Kaduna railway project which is being constructed by China Civil Engineering Construction Corporation, has been included in the list of practical cooperation projects for the Third Belt and Road Forum for International Cooperation.

“This railway will also promote the development of related industries along the route. The construction and operation of the project will create numerous job opportunities in Nigeria.

“Currently, the project is progressing smoothly. The next phase, CDB will work closely with the Nigerian side to ensure the continued disbursement of loans and effectively manage following work,” it stated.