The federal government, De-Sadal Nigeria Limited, and China Liancai Petroleum Investment Holdings Limited are preparing to launch the construction of a $60 billion gas project and a 4,000-kilometer high-speed train in Nigeria.

This project was revealed when the consortium presented proof of funds to the Secretary of the Government of the Federation, Senator George Akume, alongside the Ministers of Transport, Sa'idu Alkali and the State of Petroleum Resources (Gas), Ekperikpe Ekpo, among others, in Abuja.

“Today, with our partners, I just presented the official project approval form. The funding comes from the Asian Development and Investment Bank (BDI) and will be used to finance the first phase of the project, which involves four major cities in Nigeria,” said Samuel Uko, managing director of De-Sadal, a logistics investment firm

He added that the $55 billion in funds earmarked for the first phase are “ready” and that partial operations could begin before full completion.

Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), assured the consortium of fuel supplies. “We have enough gas for the project. I can assure investors that they will not be left behind when it comes to gas, which is the precursor to the project.

Sa'idu Alkali, Minister of Transport, confirmed that the Infrastructure Concessions Regulatory Commission (ICRC) has approved the preliminary business case, with the full business case still in preparation before being submitted to the Federal Executive Council (FEC).