President Bola Tinubu has directed Vice President Kashim Shetima to engage with the Chinese President on a bilateral discussion for financing of Ibadan -Abuja standard guage railway project.
 
Minister of Transportation, Sa’id Alkali, who made the disclosure during an inspection tour of the project alongside members of the National Assembly Joint Committee on Land Transport, noted that although the Chinese government had disbursed the $1.2 billion funding for the scheme, they are still trying to cascade the final stage for the draw-down of the loan.
 
Since the project commenced in 2021, the Federal Government has committed $380 million as counterpart funding to enable the contractor, China Civil Engineering Construction Company (CCECC) mobilise to site, but unfortunately, the work has been moving at a slow pace, given that the China Exim Bank had not released funds.
 
However, after the Chinese Exim Bank’s withdrawal, the China Development Bank (CDB) was announced as new financier for the Kaduna-Kano railway modernisation project in April 2023.  
 
The minister, who took a tour of the project from Kano-Markarfi, told journalists that the President is desirous in ensuring that the railway projects are completed and put into use, given that transportation is an enabler of economic growth and a gateway to the nation’s economy. 
 
On the increasing vandalism of rail tracks by criminal elements, Alkali assured that the ministry and Nigerian Railway Cooperation (NRC) were working hard to check the development.

“We are deploying so many surveillance devices in conjunction with the security agencies to ensure that these properties are not allowed to be vandalised,” he said.
 
Chairman, Senate Committee on Land Transport, Adamu Ailero commended the ministry for its commitment to ensuring the project is completed by 2025-2026.
 
While lamenting paucity of funds, the lawmaker disclosed plans to discuss with the Debt Management Office (DMO), Minister of Finance, Attorney General of the Federation and also the Minister of Transportation to fast-track the financing arrangement for the project.
 
A member of the House of Representatives, Mrs. Blessing Onuh, deplored vandalisation of railway tracks, adding that there are plans by the National Assembly to review the contract to factor in installation of anti-theft mechanisms.

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