A decade after it was first conceived, Nigeria’s ambitious high-speed (bullet) train infrastructure project is edging closer to execution, after its promoters announced they have nearly secured the required government approvals and presented proof of funds for the $60 billion scheme.
On Tuesday in Abuja, representatives of the federal government, De-Sadal Nigeria Limited, and China Liancai Petroleum Investment Holdings Limited revealed that construction would soon begin on the 4,000-kilometre network linking Lagos, Abuja, Kano, and Port Harcourt.
“Today, with our partners, I have just presented the official approval form for the project. The fund is coming from the Asian Development Investment Bank and it is to cover the first phase of the project that cuts across four major cities in Nigeria” Samuel Uko, chief executive officer of De-Sadal, a logistics investment firm, said.
He added that the $55 billion of the funds earmarked for the first phase is ‘ready and that partial operations could start before full completion.
Ekperikpe Ekpo, minister of state for Petroleum Resources (Gas), assured the consortium of fuel supply. “We have sufficient gas that needs to be used for the project. I can assure the investors that they would not be lagging behind in terms of gas, which is the precursor of the project.”
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Sa’idu Alkali, minister of Transportation, confirmed that the Infrastructure Concession Regulatory Commission (ICRC) has approved the outline business case, with the full business case still in preparation before it goes to the Federal Executive Council (FEC).
Oseodion Ewalefoh, ICRC’s director-general, confirmed this, noting the need for financial credibility.
“Any investor coming into Nigeria must show proof of funds,” he said. “The next step is to review submissions, validate claims and see if we truly have what it takes to make the project see the light of day.”
According to Uko, the 1,600-kilometre first phase will take 36 months to complete, though passengers on some routes, such as Lagos to Lokoja, could start enjoying the bullet train much earlier.
Bullet trains, known as Shinkansen in Japan, contributed to the Asian nation’s transport revolution, facilitating connectivity and movements of goods and persons.
Since their launch in 1964, the trains have redefined the global perception of Japanese efficiency and technology.
“More than 10 billion passengers have now been carried in speed and comfort by the trains, the predictability of the operation making high-speed travel seem routine and largely taken for granted,” said the CNN in a 2024 report.
Hence the bullet train will enhance activities along the Lagos, Abuja, Kano, and Port Harcourt corridor and facilitate movements.
It is expected to enhance property values along the corridor, boost tourism and the gross domestic product (GDP) of these areas.
On environmental and social fronts, it will lower carbon emissions, reduce traffic congestion, improve mobility and enhance intra-state opportunities, analysts say.
“Don’t forget its capacity to create jobs and opportunities across the states,” said Allwell Izu, a development economist.
“It can also result in a population shift, where people can decide to live outside Lagos and commute to Lagos for work or business.”