Industry & Money

AfDB $350m for Kano-Maradi Rail Line

The African development Bank (AfDB) has approved $350million loan for the construction of a rail line between Kano-Maradi, it was gathered yesterday.

Declaring the National Assembly’s position after an oversight tour of the Nigerian Railway Corporation (NRC’s) Lagos-Ibadan standard gauge system, yesterday, the Chairman of the Senate Committee on Land Transport, Adamu Aliero, said the Senate remained committed to ensuring that the NRC meets its mandate of modernization and rehabilitation of the national rail asset.

He restated the commitment of the National Assembly to the railway modernisation and rehabilitation under the Renewed Hope Agenda of President Bola Ahmed Tinubu.

The rehabilitation and modernization agenda was part of the 25 year Nigerian Railway Masterplan, which started under President Olusegun Obasanjo in 2000.

The Railway Masterplan with railway rehabilitation and modernization components will run its full course next year. Aliero said the oversight visit was the third by the committee to the NRC national asset across the country, as it had earlier visited the Abuja-Kaduna Train corridor and the Kano-Maradi corridor.

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