The Federal Government has approved the China Development Bank (CDB) as the new financier for the Kaduna-Kano rail modernization project, paving the way for its completion.
The announcement, made by the Senate on March 14, follows the withdrawal of the China Exim Bank (CEB) in 2020, which had cited the COVID-19 pandemic and other challenges as reasons for stepping away from the project.
The update was shared in a statement by Dada Olusegun, the Special Assistant to the President on Social Media, on Saturday.
The 203-kilometre standard-gauge railway is expected to enhance transportation by connecting Kano and Abuja, thereby boosting economic activity along the corridor.
Before this development, President Bola Tinubu had reassured Nigerians that his administration remains committed to completing the Ibadan-Abuja-Kaduna-Kano railway project, building on the railway expansion program initiated under former President Muhammadu Buhari.
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