Finance

Nigeria : President Buhari inaugurates West Africa’s first high speed train

Thursday, 28 July 2016 04:57

Nigeria, Africa’s leading economy, after its grand space ambitions just commissioned its first high speed rail system. President Buhari indeed officially inaugurated the country’s and West Africa’s first high speed train on July 26, 2016.

The project which was partially executed by Nigeria’s former president, Jonathan Goodluck, was concretized with the help of a $849 million taken from a Chinese bank.

The infrastructure will reinforce Nigeria’s railway traffic. With a maximal speed of 150km/h, the train will for now connect Abuja to Kaduna in the North-West. “The Abuja-Kaduna train provides an alternative for transport between the federal capital and Kaduna state, a potential major corridor for industries, agricultural businesses and movement of persons,” said President Buhari.

Though extremely rapid, a high speed train is not generally affordable to all. In the present case however, Nigerian authorities said they would remediate to this. A first-class ticket thus cost €2 (FCFA1300) and €1.5 (FCFA975) for the second-class.

The authorities added that they would soon extend the train’s rail network to other towns across the country.

Alain Okpeitcha (Intern)

On the same topic
Kenya tax revenue rises to 2.038 trillion shillings by March Growth driven by reforms, digitalisation, and stronger compliance Collections...
CEMAC borrowing costs jump to 11.5% in late 2025 Higher fees, policy tightening drive rise despite stable nominal rates Credit grows, but governments...
Reforms aim to improve efficiency, attract investment, boost lending Move follows bank recapitalization and push to support real sector Nigeria’s...
Senegal banks’ holdings of government securities rise 123% in 2025 Treasury borrowing drives shift toward longer-term bond issuance Credit to private...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.