The railway project is part of China’s Belt and Road Initiative, which Nigeria joined in 2018.
“This railway will also promote the development of related industries along the route. The construction and operation of the project will create numerous job opportunities in Nigeria,” the bank said.
The China Development Bank recently released a $254.76-million loan for the construction of a 203-kilometer standard-gauge railway linking Kano and Kaduna, two major states in northern Nigeria.
The railway is being built by China Civil Engineering Construction Corporation.
According to the bank, the railway will promote the development of related industries along the route, creating numerous job opportunities in Nigeria.
Loading...
The bank has also supported other projects in Nigeria, including the Lekki Deep Water Port in the commercial capital Lagos.
The loan announcement preceded China’s Foreign Minister Wang Yi’s visit to Nigeria, part of his annual tour of Africa.
China is Nigeria’s largest trading partner, with bilateral trade valued at $13.6 billion in 2023.
The two countries, with 53-year-old diplomatic relations, have collaborated on several infrastructure projects, including the Abuja-Kaduna Railway and the Lagos-Ibadan Railway.
Loading...