Global law firm Clifford Chance has advised Africa Finance Corporation and Rand Merchant Bank, a division of FirstRand Bank Limited as global coordinators, the arrangers and lenders on a USD1.8 billion financing package supporting the construction and development of the Kano–Maradi Railway Project by the Federal Republic of Nigeria.
The financing brings together development finance institutions and private sector lenders, creating a diversified funding structure tailored to the project’s needs. The 374-kilometre single-track standard gauge railway will connect Kano, a major commercial centre in northern Nigeria, with Maradi, a key economic hub in neighbouring Niger.
The project is expected to enhance regional connectivity, improve logistics efficiency and facilitate trade between Nigeria and Niger. It will also support broader economic development across the region, including through improved access to Nigerian ports and the strengthening of key transport corridors in line with the objectives of the African Continental Free Trade Area.
Commenting on the transaction, partner Kayode Oladipo said:
“The Kano–Maradi Railway Project represents a transformative investment in regional infrastructure and economic integration. By bringing together development finance institutions and private sector lenders in a single financing solution, this transaction demonstrates the ability of innovative financing structures to support strategic infrastructure projects that drive sustainable economic growth, strengthen regional connectivity and facilitate cross-border trade across Africa.
We are proud to have advised the arrangers and lenders on a financing that will support one of the region’s most significant transport infrastructure projects and deliver long-term economic benefits for Nigeria, Niger and the wider West African region.”
The Clifford Chance team was led by partner Kayode Oladipo, supported by senior associates Michael Obiri-Darko and Elphina Franklin and associates Boma George and Lindy Mguni.
This transaction further strengthens Clifford Chance’s track record of advising governments, lenders, development finance institutions and other stakeholders on complex sovereign and infrastructure financings across Africa.
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