The Federal Government, FG, has reiterated its commitment to transforming the nation’s transportation system by constructing a 4,000-kilometer high-speed rail network.
This Secretary to the Government of the Federation (SGF), George Akume, who made the announcement said the project aims to connect major economic centers, boost trade, and foster national integration.
Akume who spoke during a meeting with De-Sadel Nigeria Limited and its financial partner, China Liancai Petroleum Investment Holdings Limited said the Chinese firm presented a $60 billion proof-of-funds for the project.
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Akume described the meeting as highly encouraging and confirmed that the proof-of-funds would be verified according to standard government protocols.
Also, the Minister of Transportation, Senator Sa’idu Alkali, stated that the project aligns with his ministry’s goal of providing safe, efficient, and affordable transport services.
He also noted that it supports President Bola Tinubu’s vision of attracting foreign investment for critical infrastructure.
More so, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, assured the investors that the government is ready to provide the necessary gas supply to power the rail network, citing Nigeria’s vast gas reserves.
Furthermore, Samuel Uko, CEO of De-Sadel Nigeria Limited, explained that the project will be executed in phases.
The initial phase will cover approximately 1,700 kilometers, connecting Lagos, Abuja, Kano, and Port Harcourt.
He added that sections of the network would be opened to the public as they are completed, well before the scheduled 36-month completion period.
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The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, confirmed that the proof-of-funds submission is a mandatory requirement for such a large-scale project.
He assured that the ICRC would conduct a thorough review to ensure the proposal is both financially and technically viable.
