FG inaugurates committee on proposed 4,000km high-speed rail project
The Federal Government has inaugurated a Technical Committee to review proposals for a 4,000-Kilo Metre integrated gas power and high-speed rail project aimed at linking major economic corridors across the country.
The project, to be executed under the regulatory guidance of the Infrastructure Concession Regulatory Commission will cut across all 36 states of the federation.
The project will be handled under a Public Private Partnership (PPP) initiative,
The Secretary to the Government of the Federation (SGF), Sen. George Akume, who inaugurated the committee on Thursday in Abuja, said the project would connect key cities including Lagos, Abuja, Kaduna, Kano and Port Harcourt.
Akume said the proposal, submitted by a consortium led by DE-SADEL Consortium Nigeria Ltd., in partnership with China Lansay Petroleum Investment Holdings Ltd., was estimated at 200 billion dollars.
He said the project was conceived as a multi-phase programme integrating gas development, power generation and transmission, alongside the construction of a nationwide high-speed rail network.
“The project has the potential to significantly transform Nigeria’s transport infrastructure, strengthen energy security, stimulate industrial growth and deepen national integration,” he said.
The SGF said that the initiative aligned with the Federal Government’s Renewed Hope Agenda, which prioritised infrastructure development, energy security, economic diversification and job creation.
He, however, stressed the need for a thorough technical review to ensure the project’s alignment with national priorities, as well as its technical, financial and legal viability.
According to him, inputs from security, financial intelligence and regulatory agencies highlighted the need for a coordinated inter-agency assessment of the proposal.
Akume added that the committee chaired by the Permanent Secretary, Political and Economic Affairs Office, office of the SGF, had representatives from key ministries, departments and agencies including transportation, petroleum resources, finance, justice and environment as members.
He said others were the Infrastructure Concession Regulatory Commission (ICRC), Central Bank of Nigeria (CBN), Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), National Intelligence Agency (NIA), and the Office of the National Security Adviser (ONSA), among others.
He revealed that the committee’s terms of reference include verification of funding sources, review of the proposed financing model, and assessment of technical capacity of the project proponents.
The SGF added that the committee would also examine regulatory compliance, PPP frameworks, and potential security and reputational risks.
He said the committee was expected to provide evidence-based recommendations to guide government’s decision on the project.
”I hereby formally inaugurate this Technical Committee to review the proposal for the Integrated Gas-Powered High-Speed Rail Project,” he said.
Also speaking, the Chief Executive Officer of DE-SADEL Consortium, Mr Samuel Uko, said the project would cover all 36 states and the Federal Capital Territory.
Uko said the rail network would span 4,000 kilometres, with an initial phase of about 1,700 Kilo Metres connecting Abuja, Lagos, Kano and Port Harcourt.
He said trains on the network would be expected to operate at speeds of up to 350 kilometres per hour, reducing travel time between Lagos and Abuja to about two and a half hours.
He added that the project would incorporate power generation, gas development, fibre-optic infrastructure and other components to support operations.
According to him, the project will also boost electricity generation and create over two million jobs for Nigerians.
Uko said the consortium had secured several regulatory approvals and was engaging relevant stakeholders to achieve financial close and commence implementation.(NAN)