Railway
By JOY ADARA, Abuja –
In a significant boost to Nigeria’s transportation infrastructure, the China Development Bank (CDB) has approved a substantial loan of $254.76 million to fund the construction of the Kano-Kaduna railway project.
The CDB in a statement on Tuesday said the loan would provide financial support for the smooth progress of the project.
This strategic investment is expected to propel the country’s economic growth and foster regional connectivity.
The 203-kilometer standard-gauge railway will establish a direct link between Kano and Abuja, stimulating the development of industries and creating numerous job opportunities along the route.
“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.
“The Kano-Kaduna railway project has been included in the list of practical cooperation projects for the Third Belt and Road Forum for International Cooperation,” the statement said.
The project, being constructed by the China Civil Engineering Construction Corporation (CCECC), has been identified as a key cooperation project under the Belt and Road Initiative.
The CDB has assured its commitment to working closely with the Nigerian government to ensure the successful completion of the project, with continued loan disbursements and effective project management.
As the project gains momentum, Nigeria is poised to reap the benefits of enhanced transportation infrastructure and accelerated economic growth.
