Kano-Maradi railway project will cost $1.9bn – Nigeria’s Transport Minister
The Minister of Transportation, Rotimi Amaechi, has said that the Kano-Maradi (Niger Republic) railway project will cost the Federal Government the sum of $1.9 billion, with the funds expected to be mostly sourced from Europe. He added that the financing is being negotiated for the railway project which is expected to be flagged off this week by President Muhammadu Buhari.
This disclosure was made by the Minister while speaking on a Channels Television on Sunday, February 7, 2021.
The project is one of Nigeria’s strategic attempts to position itself to take advantage of Niger’s landlocked status and will connect Kano to Apapa Port in Lagos.
The Minister said, “The project is going to cost us $1.9bn and we will source it from mostly Europe but we are yet to conclude the transaction.”
While responding to a question on how long it would take the country to repay the loan, the former Rivers State Governor explained that it was not within the jurisdiction of his Ministry, but noted that the railway project would commence on Tuesday.
He said, “That is the responsibility of the Ministry of Finance. When we would pay; what are the terms of agreement for the loan and all that would be the responsibility of the Ministry of Finance.
“So, that question can be directed to the Minister for Finance. For us in Transportation, our job is to work with the Ministry of Finance to procure the loan and commence construction and we think we would commence construction on Tuesday.”
He stated that the project would open up the country to more investment, arguing that it was in Nigeria’s best interest for the Kano-Maradi railway to be constructed.
Amaechi said, “The interest is national; the interest is about Nigeria. The Maradi terminal is just 20 kilometres away from Nigeria; just 20 kilometres. So, there is no huge investment like Nigerians are thinking.”
The Minister said the Lagos-Kano commercial corridor transports 30,000,000 tonnes of cargo annually, with only 200,000 of that currently carried by rail and the rest by road. This, he described as preposterous.
Further reports reveal that the President would on Tuesday, February 9, 2021, perform the groundbreaking ceremony of the Kano-Maradi, Kano-Dutse Railway Project.
This follows the signing of the Memorandum of Understanding (MoU) with Mota-Engil Group, the contractors to the railway project, which is expected to connect 3 states namely Kano, Katsina and Jigawa and then terminate at Maradi, Niger Republic.
Details on Kano-Maradi Railway
The Federal Government has signed a Memorandum of Understanding (MoU) with Mota-Engil Group on the construction of $1.959 billion dollars Kano-Maradi Standard Gauge Railway lines.
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