Nigeria’s dream of modern, fast, and reliable rail transportation took a major step forward as De-Sadel Nigeria Limited and China Liancai Petroleum Investment Holdings Limited submitted a $60 billion proof of funds to the Federal Government for the country’s ambitious 4,000km high-speed rail and gas infrastructure project.
The announcement, made in Abuja, was witnessed by the Secretary to the Government of the Federation (SGF), Senator George Akume, signaling the government’s commitment to transforming Nigeria’s transport and energy sectors.
Speaking at the event, Samuel Uko, CEO of De-Sadel Nigeria Limited, disclosed that the project financing would be provided by the Asian Development Investment Bank.
According to him, the $60 billion will finance the first phase, covering four key economic corridors: Lagos–Abuja, Abuja–Kano, and Abuja–Port Harcourt.
“Today is historic. After almost a decade of planning, the project has now received over 90% government approval, and with this proof of funds submitted, we are set to move forward,” Uko said.
He explained that the first phase is estimated at $55 billion, while the gas component will strengthen Nigeria’s power supply base to support the energy needs of the high-speed trains.
Highlighting the synergy between transportation and energy, Uko noted that power remains the backbone of high-speed rail operations, and gas development is critical to achieving sustainable energy for the project.
“You cannot build high-speed trains without addressing the gas supply gap. Power drives the trains, and gas fuels power.
This project will therefore transform not just transportation but also Nigeria’s gas economy,” he added.
According to the developers, the 1,600km first phase will be delivered within 36 months. However, the project will be commissioned in phases.
SGF George Akume commended the initiative, while stressing that the proof of funds would undergo rigorous scrutiny to ensure credibility and international compliance.
“Nigeria welcomes foreign investment, but every partnership must be reliable, credible, and mutually beneficial.
The submitted proof of funds will be carefully reviewed to guarantee viability and timelines,” he stated.
Similarly, Minister of Transportation, Senator Said Alkali, emphasized that the project aligns with President Bola Tinubu’s directive to provide a safe, affordable, and modern transportation network.
“This rail project is part of our broader mandate to attract foreign investment and deliver sustainable infrastructure.
With ICRC’s approval of the Outline Business Case, we are preparing the full business case for Federal Executive Council review,” Alkali explained.
Experts project that the high-speed rail will:
Reduce travel time between Lagos and Abuja to under three hours.
Open up regional trade and economic growth corridors.
Create over 500,000 direct and indirect jobs during construction.
Boost Nigeria’s energy sector by expanding gas infrastructure.
Strengthen investor confidence in Nigeria’s infrastructure reforms.
Transportation analysts note that the rail line will not only revolutionize mobility but also position Nigeria as a hub for intra-African connectivity, in line with the African Continental Free Trade Area (AfCFTA) goals.
If successfully implemented, the $60bn-backed high-speed rail project will mark the largest infrastructure investment in Nigeria’s history, reshaping the country’s transport, power, and investment landscape.
While scrutiny and due diligence remain essential, the partnership signals a new chapter in Nigeria’s quest for world-class infrastructure and sustainable development.