Kehinde Fajobi
The China Development Bank has approved a $254.76 million loan to Nigeria to aid the completion of the Kano-Kaduna railway project.
This announcement precedes the visit of China’s Foreign Minister, Wang Yi, to Nigeria this week.
Wang, as part of his annual New Year tour of Africa, is set to arrive on Wednesday and will meet with President Bola Tinubu and other top officials on Thursday, according to the Nigerian Ministry of Foreign Affairs.
The 203-kilometre standard-gauge railway, which links Kano to the federal capital, Abuja, has faced funding delays despite its estimated cost of $973 million. The new loan aims to ensure steady progress on the project.
In a statement on its website, the China Development Bank said, “The newly approved loan will facilitate the smooth progress of the railway’s construction.”
Once completed, the railway is expected to provide safe, efficient, and convenient transportation, significantly benefiting local residents.
The project, constructed by the China Civil Engineering Construction Corporation, is a vital part of China’s Belt and Road Initiative, highlighting its strategic importance in fostering connectivity in Nigeria.