Nigeria marked a significant step in its infrastructural transformation as De-Sadel Nigeria Limited, in partnership with China Liancai Petroleum Holdings Limited, officially presented $60 billion in proof of funds for the launch of the first phase of the multi-billion-dollar Integrated High-Speed Rail and Gas Development Project, the first initiative of its kind on the African continent.
The presentation took place on August 12, 2025, at the office of the Secretary to the Government of the Federation (SGF), Senator George Akume, who personally received the delegation alongside key government officials and other stakeholders.
The $60 billion funding will finance the initial phase of the 3-phase high-speed rail network project, which is estimated to be completed in 36 months.
Nigeria boasts of 210.54 trillion cubic feet (TCF) of proven natural gas reserves, which will be developed as part of the project to power the high-speed rail.
Also present at the event were the Minister of Transportation, Sa’idu Ahmed Alkali, the Minister of State for Petroleum Resources, Hon. Ekperikpe Ekpo (Gas), and the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Oseodion Ewalefoh, who reaffirmed the government’s readiness for business in line with the ICRC mandate and the vision of President Bola Ahmed Tinubu.
The Chief Executive Officer of De-Sadel Nigeria Limited, Samuel Uko, announced that the administration has already granted 90 percent approval for the project, marking a major step towards its full commencement.
The initiative is designed to create millions of job opportunities, thereby providing a substantial boost to Nigeria’s employment market. Beyond job creation, the project is set to stimulate economic growth, attract foreign investment, and contribute significantly to the diversification of the nation’s economy.
Receiving the proof of funds, Senator Akume expressed enthusiasm about the development, noting its alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He emphasized that the project represents a strategic step towards actualizing Nigeria’s infrastructure vision, with the potential to accelerate national development and improve the standard of living for millions of Nigerians.
