The China Development Bank has approved a $255 million loan to Nigeria for a railway project which has been designed to connect two of Nigeria’s northern states Kano and Kaduna.
The loan is expected to be delivered to the Federal Republic of Nigeria during a diplomatic visit by China’s Foreign Minister Wang Yi as part of his annual New Year Tour of Africa.
Nigeria’s foreign ministry confirms that Wang Yi will arrive in Nigeria on Wednesday and meet President Bola Tinubu and senior government officials on Thursday.
Reports indicate that Construction of the Kaduna-to-Kano rail project, which is expected to cost $973 million, has been slowed by funding delays.
China Development Bank said in a statement on its website that the loan would provide financial support for the smooth progress of the 203-kilometre (126-mile) standard-gauge railway.
“Once completed, it will provide direct rail connectivity between Kano, an important northern city in Nigeria, and the country’s capital Abuja, offering local residents a safe, efficient, and convenient mode of transportation,” the bank said.
