The Federal Government, along with De-Sadel Nigeria Ltd. and China Liancai Petroleum Investment Holdings Ltd., is planning to start building a 4,000 km high-speed railway that will pass through six Nigerian states.
This plan was announced when the two companies presented a \$60 billion proof-of-funds to the Secretary to the Government of the Federation, Senator George Akume, in Abuja on Tuesday.
The News Agency of Nigeria (NAN) reported that the event was attended by the Minister of Transportation, Sa’idu Alkali, the Minister of State for Petroleum (Gas), Ekperikpe Ekpo, and a representative from the Attorney-General’s office, among others.
During the event, the CEO of De-Sadel Nigeria Ltd., Samuel Uko, said his company had submitted official proof of funding from the Asian Development Investment Bank to the government for the first part of the project.
He explained that in the first phase, the railway will link Lagos, Abuja, Kano, and Port Harcourt, covering about 1,600 kilometers.
“This government has already given us nearly 90% of the needed approvals. We’ve now submitted proof of funds through our financial and technical partners,” Uko said. “The project will be done in stages, and Nigerians can start using completed parts before the full 36-month schedule is over.”
He also said the rail system will need a lot of power, which depends on gas availability — linking the project to the oil and gas sector.
SGF George Akume called the meeting with investors “stimulating” and said the government would carefully check the proof-of-funds to confirm the amount and ensure it is genuine.
“We don’t doubt them, but it is standard for the government to verify large financial claims,” Akume said. “President Tinubu has made business easier in Nigeria, and we are ready to welcome serious investors.”
The Minister of Transportation said the project matches the ministry’s goal of providing safe, affordable transport and supports the president’s push to attract foreign investment.
Minister Ekperikpe Ekpo also assured investors that there is enough gas to support the project. He said Nigeria has proven gas reserves of 210 trillion cubic feet, with another 600 trillion cubic feet in deep-sea areas.
“Gas is essential for this project, and there will be no shortage,” he said.
Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), said that showing proof of funds is a key requirement for projects like this.
“They have now shown \$60 billion in funding from China. Our next step is to verify and review these claims to ensure the project is feasible,” Ewalefoh said. “This supports the president’s message that Nigeria is open for serious business.”
