Nigeria has secured a $350 million loan from the African Development
Bank (AfDB) to fund the Kano-Maradi rail project, a strategic initiative
aimed at modernizing Nigeria’s rail network and fostering regional
trade with neighboring Niger. Senator Adamu Aliero, Chairman of the
Senate Committee on Land Transport, announced the funding during a
recent visit to the Nigeria Railway Corporation headquarters in Lagos.
The 283.75 km Kano-Maradi railway line, launched under former President
Buhari, will connect Kano, Jigawa, and Katsina states in Nigeria to
Maradi in Niger Republic. This railway line will support economic growth
and trade in the country. Scheduled for completion in 2026, the project
includes a $1.8 billion contract with Portuguese firm Mota-Engil, with
plans to finish the Kano-Daura section by 2025. The West African country
is looking to raise 85% of the funds from the AfDB, China Exim Bank,
and the International Finance Corporation.
SOURCE: NAIRAMETRICS