Nigeria’s Federal Executive Council approved a $970 million syndicated financing facility on Wednesday, 28 October 2026, to purchase rolling stock for the Kano–Maradi railway linking northern Nigeria with Niger. Finance Minister Taiwo Oyedele said the ten-year facility would be led by Standard Chartered Bank and Africa Finance Corporation (AFC).
The financing is intended to equip the cross-border route with trains and other rolling stock needed for operations. The government expects the northern corridor to offer freight operators and businesses lower logistics costs and stronger regional trade links, benefits outlined by Oyedele after the cabinet meeting in Abuja.
Construction has been advancing along the Kano–Daura–Katsina sections. During an October inspection, transport ministry officials reported work on a railway bridge and described preparations to acquire additional coaches and improve security along railway routes. The new financing approval adds a dedicated rolling-stock package to these operational preparations.
Further approvals for power and road infrastructure
At the same 28 October meeting, the council approved a €155.9 million facility arranged by Deutsche Bank to build five electricity substations under the first phase of the Presidential Power Initiative. It also backed a €76.8 million credit involving the ECOWAS Bank for Investment and Development for rural and urban roads in Bauchi State, including connections between farming areas and markets.
Together, the decisions identify the amounts and financing partners selected by the federal government for three infrastructure operations. For the Kano–Maradi corridor, the newly disclosed terms specify the syndicated facility’s size, its ten-year tenor and its purpose of financing rolling stock.