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Reading: Chinese bank grants $254.76m loan for Kano-Kaduna railway
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Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > News > Chinese bank grants $254.76m loan for Kano-Kaduna railway
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Chinese bank grants $254.76m loan for Kano-Kaduna railway

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Last updated: January 8, 2025 3:17 pm
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1 year ago
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The China Development Bank has granted $254.76 million to Nigeria for the Kano-Kaduna railway project, ensuring construction moves forward. 

The 203-kilometer standard-gauge railway will connect Kano, a major northern commercial hub, to Abuja, Nigeria’s capital.  

This project promises safer travel, better regional connectivity, and economic growth by encouraging industrial activity along its route. 

It will also create job opportunities during construction and operation phases.  

READ ALSO: Nigerians Condemn New Retirement Package for Army Generals

Initially expected to be financed by the China Exim Bank, the project found new backing from the CDB, which is working closely with Nigeria to manage funds and operations effectively. 

This railway is part of the broader Belt and Road Initiative and is being executed by the China Civil Engineering Construction Corporation.  

The Federal Government aims to complete this segment of the railway by year-end, alongside other ongoing rail projects across the country.

 Meanwhile, China’s Foreign Minister Wang Yi will visit Nigeria to discuss stronger bilateral cooperation.

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