NIGERIA SECURES $1.3 BILLION FUNDING FOR RAIL LINK TO NIGER REPUBLIC

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Nigeria has successfully secured $1.3 billion in funding to finalise a railway project connecting Kano, the largest city in the north, to Maradi in neighbouring Niger. The transport ministry announced this development, highlighting the project’s aim to enhance trade and cultural cooperation between the two countries.

Funding for the railway line will predominantly come from a consortium led by the China Civil Engineering Construction Company (CCECC), which will cover 85% of the total cost. The Nigerian government, along with institutions like the Africa Export-Import Bank and African Development Bank, will contribute the remaining 15%.

Transport ministry spokesperson, Jamilu Ja’afaru described the securing of $1.3 billion as a significant milestone in advancing this critical infrastructure project. The project also received a boost in July when Portugal’s largest builder Mota-Engil signed an 840 million-euro ($919 million) contract to supply and finance railway rolling stock.

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