China to commit 85% finance for Abuja-Kano, Port-Harcourt- Maiduguri rail projects

The People’s Republic of China has agreed to commit 85 per cent of funds meant to refinance the completion of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, with Nigeria putting up the remaining 15 percent.

This commitment was made known on Wednesday during a bilateral meeting in Beijing between Vice President Kashim Shettima and Chinese President Xi Jinping, on the sidelines of the ongoing Belt and Road Initiative Forum (BRI) in Beijing.

A statement issued by the Senior Special Assistant on Media and Communications to the Vice President, Stanley Nkwocha, said the Chinese government has reaffirmed its commitment to refinancing and ensuring the completion of the rail projects on the request of President Bola Tinubu.

In the statement titled, ‘At 3rd Belt and Road initiative forum: China commits to refinancing, completing Abuja-Kano, Port-Harcourt-Maiduguri railways,’ Nkwocha said the Chinese President promised to renew his country’s commitment to refinancing the railway which was stalled after it was flagged off in 2021 as a result of China withdrawing its funding.

Read also: Shettima jets out to China to represent Tinubu at 3rd Belt and Road Initiative Forum

The statement added that the Chinese President also pledged an increased investment in Nigeria’s power generation and digital economy, while calling for the protection of Chinese nationals working in Nigeria, as he would, in turn, ensure that the Nigeria-China bilateral relation was stronger than before.

Xi promised that China would enhance political support and build cooperation in all fields. He also appreciated Nigeria’s support of the one-China policy, Nkwocha said.

Pledging to deepen practical cooperation further, the Chinese leader pledged support for the Renewed Hope Manifesto of President Bola Tinubu and his eight-point economic agenda, he added.

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