Nigeria Receives Funds for $60bn High-Speed Rail Project

Nigeria has received proof of funds for a $60 billion high-speed rail project connecting major states. The first phase, covering a kilometer stretch in the Port Harcourt corridor, is expected to be completed within 36 months.

The project will be financed by the Asian Development Investment Bank. The success of the rail project is crucial for Nigeria's gas development, providing power supply and boosting the economy.

The Secretary to the Government of the Federation, George Akume, confirmed the receipt of the funds and highlighted the importance of due scrutiny before proceeding.