China Set to Approve USD 5 Billion for the Ibadan-Kano Rail Line in Nigeria

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  • China is expected to approve a sum of USD 5.3 billion by October this year for the construction of the Ibadan-Kano rail line in Nigeria.
  • This was announced on 12th June 2020 by Hon Rotimi Amaechi, Nigeria’s Minister of Transport at a special broadcast program on Channels Television to mark the country’s Democracy Day .
  • The Chinese government is an existing funder of Nigerian rail infrastructure having previously released USD 1.6 billion for the Lagos-Ibadan standard gauge railway project.

Minister Amaechi also pointed out that President Buhari had directed the release of USD 318 million 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.

Author: Bryan Groenendaal


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