China Development Bank Approves $254.76 Million Loan for Nigeria’s Kano-Kaduna Railway Project
China Development Bank has granted Nigeria a $254.76 million loan to support the construction of the Kano-Kaduna railway project. This loan comes ahead of a visit by China’s top diplomat, Foreign Minister Wang Yi, who will meet President Bola Tinubu and senior government officials later this week.
The $973 million rail project, which aims to link the northern states of Kano and Kaduna, has faced funding delays. However, the recent loan will help accelerate progress on the 203-kilometre (126-mile) standard-gauge railway.
Once completed, the railway will offer direct connectivity between Kano and Nigeria’s capital, Abuja, providing a safer and more efficient mode of transportation for local residents, according to a statement from China Development Bank.
The project is part of China’s Belt and Road Initiative, with construction led by China Civil Engineering Construction Corporation. It is also expected to improve regional mobility, offering a safer alternative to road travel, which has been plagued by attacks from armed gangs.
China has become one of Nigeria’s largest bilateral lenders, funding critical infrastructure projects in roads, rail, and power stations.