China Development Bank has generously decided to “bless” Nigeria with a $254.76 million loan for a railway project linking Kano and Kaduna, two northern states. This announcement conveniently comes just before China’s Foreign Minister Wang Yi’s grand arrival in Nigeria as part of his annual New Year tour of Africa. Call it diplomacy, or better yet, strategic marketing. The foreign minister is set to meet President Bola Tinubu and top government officials this week, undoubtedly to cement China’s grip on yet another African infrastructure project under its much- praised Belt and Road Initiative.
The railway project, which boasts a $973 million price tag, has been crawling due to funding issues. But now, the China Development Bank has stepped in to save the day. According to a statement on its website, the loan will “provide financial support for the smooth progress” of the 203-kilometre standard-gauge railway. A noble gesture, surely. The bank added that once completed, the project will provide “safe, efficient, and convenient” transportation between Kano, a major northern hub, and Abuja, the capital.
This project has had its share of drama. Back in 2020, Nigeria’s parliament approved China’s Exim Bank as the financier. But to our surprise, the bank backed out, leaving the government strugggling for alternatives. Enter China Civil Engineering Construction Corporation, the same firm that has been carrying out infrastructure projects across Africa under China’s Belt and Road Initiative. This railway, they claim, will not only ease transportation but also curb road travel woes in a region plagued by armed kidnappers.
China isn’t just a generous benefactor, it’s one of Nigeria’s largest bilateral lenders, financing everything from roads to power stations. We all know that these “loans” come with strings attached, strings that often tighten into a chokehold as African nations struggle to repay. We all pray that the price isn’t too steep.
