HomeNewsChina to fund US$ 5.3bn for construction of Ibadan-Kano railway

China to fund US$ 5.3bn for construction of Ibadan-Kano railway

The Dubai World Islands Project
The Dubai World Islands Project

The government of the People’s Republic of China is expected to approve a sum of US$ 5.3bn by October this year, for the commencement of the construction of the Ibadan-Kano rail line, which is a part of the 2,700-km Lagos–Kano standard gauge railway line project in the Federal Republic of Nigeria.

Also Read: Track laying work for Lagos-Ibadan railway line project in Nigeria complete

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This was revealed by Rotimi Amaechi, the North African country Minister for Transportation during a special broadcast program on Channels Television to mark the country’s Democracy Day. Amaechi commended on the support that the government and the people of china continue giving to Nigeria especially in matters infrastructure.

The Chinese government has previously released US$ 1.6bn for the Lagos-Ibadan standard gauge railway (SGR) project.

Counterpart funding for the Ibadan-Kano rail line

Going further, the Minister pointed out that President Buhari had directed the release of US$ 318M as part of the 15% counterpart funding for the construction of Ibadan-Kano railway and that more funds would be released this coming year.

He also disclosed that the government had been able to pay compensation at commercial rates and not government rates to people and organizations that were affected by the Lagos-Ibadan railway project.

The construction of the Lagos-Ibadan rail line segment was projected to end in May this year to allow the Ibadan to Kano section to begin by June or July but the plan was interfered with by the rise of the COVID-19 virus early this year.

Bonny-Port Harcourt-Maiduguri rail line

On the other hand, the minister also talked about plans for the Bonny-Port Harcourt-Maiduguri rail line saying that they intend to seek approval from the cabinet before the end of next month for the implementation of the Bonny-Port Harcourt-Maiduguri rail line together with the Bonny deep seaport and the industrial park at Port Harcourt.

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