Nigeria Launches Niger Rail Link Project

Nigeria's President Muhammadu Buhari on Tuesday launched a $1.96 billion rail project linking neighbouring Niger as the country looks to boast its economy

Abuja, (APP - UrduPoint / Pakistan Point News - 9th Feb, 2021 ) :Nigeria's President Muhammadu Buhari on Tuesday launched a $1.96 billion rail project linking neighbouring Niger as the country looks to boast its economy.

The government has recently begun a series of large-scale infrastructure projects and Buhari said this 284-kilometre (176 miles) train line approved in September 2020 was crucial in linking the country to the rest of West Africa.

"The project, when completed, would serve import and export of goods for Niger Republic and other countries in the sub-region through Nigerian ports," Buhari said in a virtual address.

Nigeria will earn revenue through expansion of trade and commerce, while Niger will benefit from transportation logistics, the president added.

The Portuguese construction company Mota-Engil is to lead the project, which is to link the northern Nigerian city of Kano to Maradi in Niger.

Although Nigeria's senate last year approved a nearly $23 billion foreign loan request by Buhari to revamp the country's crumbling infrastructure, the rail project comes at a time when the country is under financial pressure.

Buhari was reelected for a final four-year term in 2019 on pledges to boost the economy and create jobs for Nigeria's young and expanding population. But the government has consistently failed to fulfil its ambitious spending targets.

As Nigeria entered a recession late last year, the International Monetary Fund warned that the country was at a critical juncture.

With current policies in place, "Nigeria's recovery is expected to be weak," the IMF said.