RMB Secures $1.8B for Nigeria-Niger Railway Project
Rand Merchant Bank (RMB) has concluded a landmark $1.8 billion deal to finance the construction of the 374km Kano-Maradi railway project, a critical infrastructure initiative aimed at enhancing regional connectivity between Nigeria and Niger. The project is being executed in collaboration with the Ministry of Finance Nigeria and involves multiple funding sources, including development finance institutions.
Chidi Iwuchukwu, Executive Director and Head of Investment Banking at RMB Nigeria, emphasized the importance of this transaction in supporting trade development in the region. Enyinna Anumudu, Senior Dealmaker and Head of Infrastructure Finance at RMB Nigeria, noted that Mota Engil Africa remains a vital partner in the project, serving as the EPC contractor.
The railway is expected to bolster economic growth, enhance regional integration, diversify transport modes, and stimulate trade between Nigeria and Niger, contributing to Nigeria's goal of a 94% reduction in emissions by 2050.
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