4 days ago
African $60 Billion High-Speed Rail Project Takes Shape
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One of the largest infrastructure projects in Africa has received a new update that could see construction begin soon
Plans for Nigeria's $60 billion high-speed rail project, which would stretch almost 2,500 miles, were submitted to the government on Tuesday.
Newsweek contacted the De-Sadel Consortium, which is working in collaboration with the government on the project, and the Nigerian Federal Ministry of Transport for more information on the project via email.
Why It Matters
Morocco became in 2018 the first country on the continent to implement a high-speed rail project and it plans on expanding it as part of preparations for the 2030 World Cup, which it will co-host. Nigeria's proposal would make it one of the first countries in the region to benefit from this kind of infrastructure.
What To Know
On Tuesday, a consortium of construction companies and developers based in Nigeria, brought the proposal to the nation's secretary to the Government of the Federation.
The project's $60 billion price tag will be funded by the Asian Development Investment Bank, one of the largest international development institutions in the world, backed by China.
The first phase of the project aims to cover four major cities in Nigeria, including Lagos, Abuja, Kano and Port Harcourt.
George Akume, the secretary to the Government of the Federation, said in a statement that the project would be reliant on international investment, like the kind that China provides, but that the technology was desirable.
A view of the Nigerian Railway Corporation train at the Idu Railway Station during the resumption of Abuja-Kaduna train railway operations in Abuja, Nigeria's capital on December 5, 2022
A view of the Nigerian Railway Corporation train at the Idu Railway Station during the resumption of Abuja-Kaduna train railway operations in Abuja, Nigeria's capital on December 5, 2022
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"This is a country that is business friendly especially under the administration of President Bola Tinubu. Though we need reasonable extent of foreign investments but such partnerships would have to be reliable and credible and beneficial to all partners," he said.
"About the proof of funds, this will be critically scrutinised in line with international practice so that we can be sure of the viability of the bullet train project and the timelines. The high speed trains project is a welcome development. We will look at the proof of funds that has been submitted critically and get back to them. We are going to do business with them."
What People Are Saying
Samuel Uko, CEO of the De-Sadel Consortium, said in a statement: "Today is a very great day in the life of this administration. The high-speed rail bullet train project that we have started 10 years ago has gotten a nod from administration. It is this administration that has given us almost 90 per cent of approvals.
"Today, with our partners, I have just presented the official proof of fund for the project. The fund is coming from the Asian Development Investment Bank ad it is to cover the first phase of the project that cuts across four major cities of Nigeria.
"The rail line is from Lagos to Abuja, to Kano, and from Abuja to Port Harcourt. So this is a very great work that the government have done. The federal government of Nigeria, through the ICRC, approved the outline business case. And the next step now was for us to submit the proof of fund to the government, which we just did. So I believe in the shortest possible time, Nigeria will start enjoying a high-speed rail in Nigeria".
What Happens Next
If approved, the first phase of the project, which costs $55 billion, will commence in the next few years. A full timeline of the project has not yet been published.
