The President of the People’s Republic of China, President Xi Jinping has pledged that China will provide funds for the Abuja-Kano and Port-Harcourt-Maiduguri railway projects up to completion.
The Chinese President made this pledge while meeting with Nigeria’s Vice President Sen. Kashim Shettima on the sidelines of the Belt and Road Initiative forum currently being held in Beijing, China.
The result of the meeting was disclosed in a statement signed by the Senior Special Assistant on Media and Communications, to the Vice President, Stanley Nkwocha.
He stated that since the commencement of the project, the Chinese government hasn’t released funds leading to delays in progress and achievements in key milestones.
The statement reads, “In what could best be described as a major milestone for Nigeria at the ongoing Belt and Road Initiative Forum (BRI) in Beijing, China has committed to refinancing and completing the Abuja-Kano and Port- Port-Harcourt-Maiduguri railway projects.
“President of People’s Republic of China, Xi Jinping, made the pledge today while responding to requests made by President @officialABAT who was represented by Vice President @KashimSM, at a bilateral meeting with the Chinese leader in Beijing.
“It would be recalled that since the launch of the projects, China is yet to release funds for the two major railway projects in Nigeria largely due to cutbacks and commitments.
“China had agreed to provide 85% financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.”
President Xi pledges more collaboration between both countries
Going further, the Chinese leader also advocated for the safeguarding of Chinese citizens employed in Nigeria, assuring that he would reciprocate by strengthening the bilateral relationship between Nigeria and China.
President Xi pledged to bolster political backing and foster collaboration across various sectors, expressing gratitude for Nigeria’s adherence to the One China Policy.
Xi confirmed China’s commitment to promoting Nigeria’s exports, particularly peanuts while emphasising the significance of the China-Africa talent initiative in their cooperation with Nigeria.
About the Port-Harcourt to Maiduguri rail project
In 2020, the Federal Executive Council (FEC) granted approval for the Port-Harcourt to Maiduguri railway project, with an estimated budget of $3.02 billion.
The financing plan for the project involved securing a loan from three Chinese syndicates, covering up to 85% of the project’s cost, while the remaining 15% was to be funded by the Federal government.
The flag-off ceremony for the railway designed to link the eastern rail corridor of the country, was presided over by former President Buhari in 2021.
