By Oluwakemi Kindness
The Federal Government of Nigeria has set up a high-level panel to thoroughly review a proposed $200 billion high-speed rail and integrated power and gas project.
This is coming in what officials describe as a “critical due diligence step” before any approval.
Secretary to the Government of the Federation, George Akume, said the project is too large and sensitive to be rushed, stressing the need for strict technical, financial, and regulatory checks.
“This project is too large and too important to be rushed,” Akume said. “It must be carefully evaluated to ensure it is technically sound, financially viable, and in the national interest.”
The proposed project—submitted by De Sadel (Nig.) Limited in partnership with Chinese firms including China Liancai Petroleum Investment Holdings Limited—is expected to combine high-speed rail development with power and gas infrastructure, making it one of the biggest infrastructure proposals ever considered in Nigeria.
Fresh Scrutiny Begins
The presidency said the initiative is currently undergoing detailed review involving security, financial, and regulatory agencies before any final decision is made.
A multi-agency committee has been constituted, bringing together key institutions including:
* Central Bank of Nigeria
* Economic and Financial Crimes Commission
* Nigeria Financial Intelligence Unit
* Office of the National Security Adviser
* Debt Management Office
Officials say inputs have already been received on financing structure and partner profiles, including Chinese state-linked firms such as China Railway Group Limited and China Railway Engineering Corporation.
Government officials insist the review does not mean rejection, but a strict safeguard process to ensure the project aligns with Nigeria’s long-term infrastructure and economic goals.
A Final approval will depend on the outcome of the panel’s findings.
