• Contact Us
  • About Us
Tuesday, December 2, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

China to fund 85% of Kano light rail project

metro by metro
November 14, 2016
in Economy
0
FG seeks $29.960bn foreign loan for power, rail, road projects
0
SHARES
0
VIEWS
Kano State government has appealed to the government of China to assist in actualising the Kano city light rail project expected to gulp about $1.85 million.
The state acting governor, Hafiz Abubakar, who made the disclosure, while, receiving the Chinese ambassador to Nigeria, Zhou Pingjian at the Government House in Kano, said the state would be seeking assistance from China in financing the project.
He said the assistance would be sought under agreement outlined in China – Africa Cooperation Action Plan, which emphasises the development of infrastructure in African countries among other things.
According to Abubakar, 85 percent of the contract sum would be sourced from foreign loan while the balance of 15 percent would be sourced locally.
The acting governor, therefore, requested the Chinese government to facilitate the funds for the project from a Chinese bank in view of its viability.
“The rail, with a total length of about 73 kilometres, will crisscross Kano metropolitan and would be executed in four phases,” he stated, adding that feasibility studies had shown it was extremely viable while the contractor had expressed a lot of confidence in the ability of the state government to make the project a huge success.
The acting governor further requested the Chinese authorities to assist Kano in terms of agricultural productivity, in view of its huge untapped resources, pointing out that there was a lot of room for full-scale agricultural chain development in the state.
“We have the land and the largest water reservoir in the country. We have 23 big and small dams with a total of 3.3 billion cubic litres of fresh water which, in the past 40 years, have been seriously underutilised,” he said.
Regarding alternative energy, he maintained that scientific proof has shown that the state has the highest and most consistent level of radiation in Nigeria, hence potential for solar energy, adding that by its strategic geographic position, Kano has excellent prospect in terms of wind energy. Both energy sources, he noted, are key areas of feasible Chinese investment.
Professor Hafiz also tasked the Chinese government to fully support Nigeria to address its demographic, educational, economic diversification and other challenges, pointing out that China is a model for Nigeria in many respects.
In his remarks, the Chinese ambassador to Nigeria, Zhou Pingjian said Nigeria has a very competitive edge in agriculture and human resources, assuring that his country would support Nigeria to exploit its potential for accelerated development.
He said Nigeria must seize the opportunity of what he termed “China’s over capacity”, resulting in relocation to other places, to revamp its economy, pointing Chinese states and local governments are keen in investing in places such as Kano, for mutual benefit.
Chinese investors he added, are also willing to invest in the manufacturing sector of Nigeria’s economy as part of attempt to actualize resolutions of the China – Africa Cooperation Action Plan, and asserted that his country has a lot to offer, having been rated as the first in manufacturing in the world.

Read Also

Trump Again Criticises Fed’s Powell, Says ‘I’d Love To Fire His Ass’

Nigeria’s Inflation Rate Drops To 16.05% For Seventh Consecutive Time In 2025

Nigeria’s Economic Reforms Yielding Results, But Beyond Chest-Beating, Growth Must Become Inclusive-Uwaleke

Previous Post

Nigerian exporters must tap AGOA to earn FX

Next Post

CBN suspends licenses of 195 BDCs

Related Posts

Trump Accuses Fed, Powell Of Creating Inflation On Heels Of Rate Decision
Economy

Trump Again Criticises Fed’s Powell, Says ‘I’d Love To Fire His Ass’

November 20, 2025
National Bureau
Economy

Nigeria’s Inflation Rate Drops To 16.05% For Seventh Consecutive Time In 2025

November 17, 2025
Nigeria’s Economic Reforms Yielding Results, But Beyond Chest-Beating, Growth Must Become Inclusive-Uwaleke
Economy

Nigeria’s Economic Reforms Yielding Results, But Beyond Chest-Beating, Growth Must Become Inclusive-Uwaleke

November 13, 2025
Nigeria’s Banking Recapitalization: A ‘Too Big To Fail’ Scenario In The Making?”
Economy

FG Bows To Pressure,  Halts Implementation Of Planned 15% Import Duty On Diesel, Petrol

November 13, 2025
Next Post
CBN

CBN suspends licenses of 195 BDCs

Many Passengers Stranded As Bandits Take Over Highway In Kogi

Many Passengers Stranded As Bandits Take Over Highway In Kogi

December 1, 2025
FTS: Concerns Over Kogi ‘Budget Paradox’ Amid Rising Enviromental, Social Risks

Truck Crushes Four Students To Death, Injures Others In Kogi, Aggrieved Residents Accuse Government Of Neglect

December 1, 2025

South Africa’s Third-Largest City Ekurhuleni Secures Electric Power Campus Network with Huawei Wi-Fi Shield Technology

November 28, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version