The Federal Government has announced plans to construct a $60 billion, 4,000km high-speed rail network across six states in partnership with De-Sadel Nigeria Ltd. and China Liancai Petroleum Investment Holdings Limited.
The project’s first phase will link Lagos, Abuja, Kano, and Port Harcourt over 1,600km, with completion in stages to allow early service within the 36-month schedule. De-Sadel’s Chief Executive, Samuel Uko, said an official proof-of-funds from the Asian Development Investment Bank had been presented to government officials.
Secretary to the Government of the Federation, George Akume, described the engagement as “stimulating,” noting that the proof-of-funds would undergo standard verification. He reaffirmed the administration’s reforms to attract foreign investment.
Transportation Minister Sa’idu Alkali said the rail initiative aligns with the mandate to provide safe, secure, and affordable transportation. Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo assured investors of adequate gas supply, citing Nigeria’s 210 trillion cubic feet of proven reserves and additional offshore potential.
The Infrastructure Concession Regulatory Commission confirmed that validation of the $60 billion commitment is the next step, in line with the government’s drive to position Nigeria as open for major infrastructure investment.