China Development Bank Approves $254.76m Loan For Kano-Kaduna Railway Project
The China Development Bank (CDB) has announced the approval of a $254.76m (€245m) loan to support the Kano-Kaduna railway project in Nigeria. This financial assistance aims to ensure the seamless continuation of construction work on the key infrastructure project.
In a statement published on its official website, the CDB noted, “The China Development Bank has recently approved a loan of 245 million euros ($254.76m) to the Kano-Kaduna railway project in Nigeria, ensuring the continued smooth operation of the development.”
The Kano-Kaduna railway is a 203-kilometer standard-gauge line designed to connect Kano, a major commercial hub in northern Nigeria, with Abuja, the country’s capital.
Once operational, the railway is expected to provide safer and more efficient transportation for residents, enhance regional connectivity, and serve as a catalyst for economic growth by fostering industrial development along the rail corridor.
Additionally, it is set to create significant employment opportunities during its construction and operational phases.
The project has been identified as a critical cooperative initiative under the Third Belt and Road Forum for International Cooperation. It is being executed by the China Civil Engineering Construction Corporation (CCECC) with funding from the CDB.
According to the CDB, construction work is advancing steadily. The bank reaffirmed its commitment to collaborating with the Nigerian government to ensure the timely disbursement of funds and effective management of the project’s subsequent phases. Initially, the China Exim Bank was set to finance the project but later withdrew, prompting the CDB to take over the role.
The Nigerian government has reiterated its dedication to infrastructure development, with President Bola Tinubu pledging that the Ibadan-Abuja-Kaduna-Kano railway would meet high-quality standards.
The Federal Government aims to complete the Kaduna-Kano section by the end of the year.
To support these efforts, approximately ₦44.4bn has been allocated in the 2025 budget for the completion of various railway projects, including the Abuja-Kaduna and Lagos-Ibadan rail lines.
Meanwhile, the Chinese Foreign Minister, Wang Yi, is scheduled to visit Abuja on Wednesday.
Wang, a member of the Political Bureau of the Communist Party of China, is expected to engage in discussions aimed at further strengthening the bilateral relationship between Nigeria and China.
China Development Bank Approves $254.76m Loan For Kano-Kaduna Railway Project is first published on The Whistler Newspaper
