• Latest
  • Trending
  • All
Chinese bank approves fresh $254.76m loan for 203KM Kano-Kaduna railway

Chinese bank approves fresh $254.76m loan for 203KM Kano-Kaduna railway

Ibas faults NBA for moving Conference from Rivers to Enugu, demands Refund of N300m Hosting Rights

Rivers LG Administrator Resigns

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

Court remands TikToker For Bathing On Street

Court remands TikToker For Bathing On Street

JUST IN: Presidency warns Nigerians, Leaders over Opposition to Tinubu’s Tax Reform Bills

Tinubu lands in Benue amidst Aftermath of Yelewata attack

CAC Increases Service Fees from  August 1

CAC Increases Service Fees from August 1

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

CBEX Resumes Operations, asks Nigerian Investors To Deposit $200

How Fuel Prices rose from 6 kobo-N650/litre Since 1973 to 2024

Fuel Marketers Engage Suppliers To Crash Petrol Price To N700/Litre

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Ondo Deputy Speaker and Majority Leader resign

Ondo Deputy Speaker and Majority Leader resign

  • About Us
  • Advertise with Us
  • Editorial Policy
Wednesday, June 25, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Business News

Chinese bank approves fresh $254.76m loan for 203KM Kano-Kaduna railway

by iDeemlawful
January 8, 2025
A A
Chinese bank approves fresh $254.76m loan for 203KM Kano-Kaduna railway
FacebookTwitterWhatsapp

The China Development Bank (CDB) has granted a loan of $254.76 million (€245 million) to Nigeria to aid the ongoing construction of the Kano-Kaduna railway project, ensuring its smooth progress and completion.

In a statement released on Tuesday, the bank announced that their financial contribution aims to ensure the project’s seamless execution.

The Kano-Kaduna railway is a newly constructed standard-gauge railway line that spans 203 kilometers.

RelatedPosts

FULL LIST: 42 Countries Eligible to Enter China Without Visa

Traffic Officer Dies After Being Ejected from Moving Truck in Kano

Concerns As Teachers Remain On N18,000 Salary

Trump Trade War: China Announces retaliatory tariff on US Crude Oil, LNG others

Upon completion, it will directly connect the cities of Kano and Abuja by rail.

In addition, the railway will offer residents a safe, efficient, and convenient transportation alternative, significantly enhancing regional connectivity.

Beyond improved mobility, the railway project is poised to stimulate economic activity along its route.

It is expected to promote the growth of related industries and generate numerous job opportunities for Nigerians during both the construction and operational phases.

The project has been highlighted as a key initiative under the Third Belt and Road Forum for International Cooperation. It is being executed by the China Civil Engineering Construction Corporation (CCECC), with financing provided by the CDB.

According to the bank, construction is progressing smoothly.

The CDB emphasized its commitment to continued collaboration with the Nigerian government to ensure the timely disbursement of funds and effective management of subsequent phases of the project.

The bank noted that “going forward, it will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management.”

The CDB stepped in as financier after the China Exim Bank withdrew its funding for the project.

In 2023, the Minister of Transportation, Saidu Alkali, disclosed that China has committed to funding the Ibadan-Abuja and Kaduna-Kano sections of the Lagos-Kano railway under the Belt and Road Initiative.

The Minister noted that most of the ongoing rail projects were awarded under an EPC+F (Engineering, Procurement, Construction, and Financing) model.

This model requires 15% counterpart funding from the federal government, with the remaining 85% expected to be sourced through loans.

Alkali, however, said securing funds from banks has been challenging, as financial institutions perceive significant risk associated with railway projects and are hesitant to proceed with the loan arrangements.

Consequently, China was approached to help fund some of these projects.

President Bola Tinubu also assured that the Ibadan-Abuja-Kaduna-Kano railway project would be completed to the satisfaction of Nigeria and West Africa at large.

The Federal Government last week said the ongoing construction of the Kaduna to Kano rail line will be completed before the end of 2025.

The government also said it was hoping to construct a speed rail from Abuja to Lagos before the end of the year

Tags: China governmentKaduna government stateKanoLoan
Previous Post

Nnamdi Kanu rejects FG request to continue his Case over Recusal of Trial Judge

Next Post

Japa, eba, agbero, other Nigerian words enter Oxford Dictionary

iDeemlawful

iDeemlawful

Related Posts

CAC Increases Service Fees from  August 1
Business News

CAC Increases Service Fees from August 1

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
Business News

CBEX Resumes Operations, asks Nigerian Investors To Deposit $200

How Fuel Prices rose from 6 kobo-N650/litre Since 1973 to 2024
Business News

Fuel Marketers Engage Suppliers To Crash Petrol Price To N700/Litre

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports
Business News

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria
Business News

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria

Nigeria Pays Back all N2.59trn IMF Debt
Business News

Nigeria Pays Back all N2.59trn IMF Debt

FCCPC Replies  Meta’s threat to Quit Nigeria over ₦220 Million Fine
Business News

FCCPC Replies Meta’s threat to Quit Nigeria over ₦220 Million Fine

NNPC reduces NMDPRA fee Per-Litre petrol in New Pricing Template
Business News

$3bn Refinery Fraud: N80bn found in sacked MD’s Bank Accounts

15 Die in Kwara road Accident
Business News

Easter: Jubilations As Kwara Workers Receive April Salaries

Can Nigerians still Placed Fund Withdrawal? – What you need to know as CBEX crashes
Business News

Can Nigerians still Placed Fund Withdrawal? – What you need to know as CBEX crashes

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In