From Lagos to Kano in Record Time, FG, Chinese Partner Table $60bn Bullet Train Plan
Nigeria’s federal government confirms two firms have presented a $60 billion “proof-of-funds” to support a proposed 4,000-km high-speed rail (“bullet train”) network, with Phase 1 (about 1,600 km) slated to link Lagos–Abuja–Kano and Abuja–Port Harcourt. The documents were delivered in Abuja to the Secretary to the Government of the Federation (SGF), Sen. George Akume, in the presence of the Transport Minister Sa’idu Alkali and the Minister of State for Petroleum (Gas) Ekperikpe Ekpo. The government says it will now scrutinize and verify the funds and details submitted.
The consortium involves De-Sadel Nigeria Ltd. and China Liancai Petroleum Investment Holdings Ltd. De-Sadel’s CEO Samuel Uko told reporters the submission included an official proof-of-funds from an entity he described as the Asian Development Investment Bank, adding that the administration had granted “almost 90%” of the approvals required to date and that construction would be phased over 36 months, opening segments as they are completed. Government officials emphasized the documentation would undergo standard due diligence “to confirm its amount and authenticity.”
What’s on the table
- Scale & route: A 4,000-km network nationwide; Phase 1 (~1,600 km) to connect Lagos, Abuja, Kano and Port Harcourt.
- Ticket to construction: Submission of a $60 billion proof-of-funds to the SGF; next step is verification by the government and regulators.
- Approvals so far: The Infrastructure Concession Regulatory Commission (ICRC) has approved the Outline Business Case (OBC); a Full Business Case and Federal Executive Council (FEC) approvals would still be required before contract award/financial close.
- Energy linkage: Officials say the rail plan is tied to gas-fired power reliability; Nigeria cites 210 TCF proven gas reserves (and additional deep-sea potential) to support the energy needs of the network.
Where things stand
The announcement marks a proposal and funding claim, not a finalized government contract. The SGF noted the proof-of-funds would be “critically scrutinised”, and the ICRC said its role now is to review and validate the investors’ claims before any next steps. In other words: no EPC award, financing close, or FEC-cleared contract has been announced yet.
Independent outlets, including BusinessDay, The Nation, P.M. News, Punch, and the state-run Voice of Nigeria, all reported the Abuja presentation and the same headline figures. Newsweek also summarized the plan’s contours for international readers.
Context: China–Nigeria rail ties
China has long been active in Nigeria’s railway build-out (mostly standard-gauge, not true “high-speed”). In January 2025, China Development Bank released an initial €245 million tranche for the Kaduna–Kano rail segment, reflecting Beijing’s more cautious, phased lending approach after earlier Belt-and-Road slowdowns. The Lagos–Ibadan corridor also saw new freight operations by CCECC in April 2025. These give relevant context for any future megaproject financing.
Key open questions
Procurement & PPP structure: With only an OBC cleared, the Full Business Case and FEC approval stages remain. Timelines and any government guarantees are undisclosed.
Financier identity & terms: The firms cite the “Asian Development Investment Bank.” This name is not the same as the well-known Asian Infrastructure Investment Bank (AIIB) or the Asian Development Bank (ADB). The government has not yet confirmed the lender or financing terms; verification is pending.
Project scope & speed class: Public reporting calls the scheme “high-speed/bullet train,” but technical standards (design speed, track class, rolling stock) have not been published.
Note to readers: This report reflects verified public statements and media coverage as of August 14, 2025. The federal government has not announced a finalized contract or financial close for the $60 billion proposal; official due-diligence outcomes are pending.
— Interface Africa Magazine
