FG approves China Development Bank as new financier for Kaduna-Kano rail project
Railway
Abdullateef Fowewe
The Senate has announced the China Development Bank (CDB) as the new financier for the Kaduna-Kano rail modernisation project, paving way for its long-awaited completion.
This was made known in a statement on the X (formally Twitter) handle of the Special Assitant to the President on Social Media, Dada Olusegun on Saturday.
This decision on Friday, March 14, followed the withdrawal of the previous financier, the China Exim Bank (CEB) from the project in 2020, citing the COVID-19 pandemic and other factors as challenges.
The 203-kilometre standard-gauge railway is expected to improve transportation by linking Kano to Abuja, thereby enhancing economic activity.
President Bola Tinubu, prior to this development, had assured Nigerians that the Ibadan-Abuja-Kaduna-Kano railway project, will be completed, as his administration continues to build on the railway infrastructure expansion initiated under former President Muhammadu Buhari.
The statement reads, “The senate, yesterday, has announced the China Development Bank as the new financier for the project paving way for its completion over the coming months.
“The former financier, the China Exim Bank, had earlier backed off the project in 2020 citing Covid-19 pandemic among other issues as reasons bringing about delays in its completion.
“The railway, a standard-gauge line stretching 203 kilometres, will link Kano to the nation’s capital, Abuja.
“Reminder that President Bola Tinubu had earlier assured that the Ibadan-Abuja-Kaduna-Kano railway project would be completed to satisfaction as he continues to build on the success of his immediate past predecessor #MBuhari in railway revolution.”
