By: Manoah Kikekon
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| Speed Rail used to Illustrate the story |
The Federal Government, in partnership with De-Sadel Nigeria Ltd. and China Liancai Petroleum Investment Holdings Limited, is gearing up to construct a 4,000km high-speed rail network across six Nigerian states.
The $60 billion mega-project aims to revolutionize transportation, connecting major cities like Lagos, Abuja, Kano, and Port Harcourt in its first phase.
During a high-profile meeting in Abuja, the two firms presented the proof-of-funds to the Secretary to the Government of the Federation (SGF), George Akume. Key officials, including the Minister of Transportation, Sa’idu Alkali, and the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, were present to witness this milestone.
Samuel Uko, CEO of De-Sadel Nigeria Limited, confirmed that the Asian Development Investment Bank is backing the first phase of the project, covering 1,600km. He assured Nigerians that construction will be phased, allowing citizens to start benefiting from the rail service even before full completion in 36 months.
The rail system will require massive power supply, heavily dependent on gas availability. This explains the involvement of Nigeria’s petroleum sector, with Ekpo guaranteeing uninterrupted gas supply for the project. Nigeria boasts 210 trillion cubic feet of proven gas reserves, with an additional 600 trillion cubic feet in deep-sea deposits ensuring long-term sustainability.
SGF George Akume described the meeting as “stimulating” but emphasized that the submitted proof-of-funds will undergo verification a standard procedure for such large-scale investments. He reiterated President Bola Tinubu’s reforms to boost investor confidence, declaring, “If investors are ready, Nigeria is ready.”
Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), confirmed that the $60 billion funding proof from China is now under review. “This aligns with the President’s vision Nigeria is open for serious business,” he stated.
With approvals nearly finalized, Nigeria is on track to join the league of nations with advanced high-speed rail networks. The project promises faster, safer, and more affordable travel, while also boosting economic growth through job creation and foreign investment.
(NAN)