Nigeria gets $350m AfDB facility for Kano-Maradi rail project

Nigeria gets $350m AfDB facility for Kano-Maradi rail project

The Federal Government of Nigeria has secured $350 million from the African Development Bank (AfDB) to fund the construction of the Kano-Maradi rail project, which will connect Kano to Maradi in Niger Republic.

The Chairman of the Senate Committee on Land Transport, Senator Adamu Aliero, made this disclosure on Monday during an oversight visit to the Nigeria Railway Corporation (NRC) headquarters in Lagos, as reported by the News Agency of Nigeria (NAN).

Aliero stated that the Kano-Maradi rail project is part of the government’s broader efforts to modernize Nigeria’s railway network and enhance regional trade links.

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“The Chairman, Senate Committee on Land Transport, Sen. Adamu Aliero,  says the African Development Bank has released $350 million to the Federal Government for construction of a rail line from Kano to Maradi,” the NAN report read in part.

He also highlighted that President Bola Tinubu’s recent visit to China focused on finalizing negotiations for 85% of the financing needed to upgrade and rehabilitate the nation’s rail infrastructure.

Aliero disclosed that the supplementary budget recently passed by the National Assembly allocated over N530 billion as counterpart funding for these modernization efforts. The remaining 85% of the funds will be sourced from institutions such as China Exim Bank, the International Finance Corporation, and AfDB.

Nigeria gets $350m AfDB facility for Kano-Maradi rail project