Lucky Obukohwo, Reporting
The Federal Government of Nigeria, under the Public-Private Partnership (PPP), has made plan to add high-speed railway to the ongoing narrow and standard gauge railway reform projects across the country to help grow the sector and the economy.
Mr. Samuel Okoh, the President and Chief Executive Officer of De Sadel Consortium, said this on the sidelines of the just-concluded Nigeria’s 2nd International Railway Conference held in Abuja.
He said that Nigerians are about to witness a new Nigeria through the philosophy of the renewed hope of the President Bola Tinubu administration.
“Mr President brought this sudden freight that gave birth to a new Nigeria. The high-speed rail is not just coming as rail, no, it is coming with industry, cities.
“It is coming with everything new for the young generation. So it is a huge futuristic project for the generality of Nigerians, and also it is not about the elites or first class citizens of Nigeria; we have for the middle class, we have for the lower class.
“The middle class are people who travel between Lagos, Abuja, and Port Harcourt. The lower class is for those who make shorter journeys, on a move between Abuja and Benue, between Abuja and Kaduna, Ibadan and Lagos, it covers all, and so it is a new Nigeria that high-speed rail is going to bring to Nigerians.”
Speaking on the capacity of the consortium in bringing the dream into fruition, he highlighted that within its capacity, it has keyed into the philosophy of renewed hope of the Tinubu administration, and has already applied a huge force with great works.
“In De Sadel Consortium, we have a lot of expertise. In our company, we have lots of great men. Those are the capacities we have, and it is not a government project; it is a Public-Private Partnership (PPP) project.
“Just like Aliko Dangote said that he was going to build a refinery, then people said that it wasn’t possible, but today a new refinery is in this country, built by one man, and that gave us encouragement that everything is possible. And I can tell you that Nigerians are very intelligent people and they want the best. So we are going to give this country one of the best that the country will be proud of what the president promised.”
On the success recorded so far, Samuel Okoh further revealed that it has gotten a 90 percent approval of due process from the present administration within 18 months.
“Here we are talking about $60 billion investment, and 90 percent completion in 18 months?
“It is a huge work and achievement that we have made. I can tell you that the government has done well, and I am surprised by myself that this country could have a government that is ready to support this massive investment.
“That has never happened in any African country before. So the world is watching to see what will happen in the next two years in this country.”
The CEO of De Sadel Consortium, further providing insights, explained that the high-speed rail is to be built to use underground tunnels and bridges across the country, emphasising that the high-speed rail runs in a no-train system either through the tunnel or the bridge, and that is going to be the fastest and easiest way of construction.
“I can tell you that Nigerians are going to start witnessing the groundbreaking ceremony in the first quarter of 2026.
“Rest assured, we have almost crossed the ts and dotted the i’s and we are about to make the final investment decision, and also going to face the Federal Executive Council (FEC) for final approval and in the next six months, the President is going to invite leaders all over the world for the ground ceremony of this project,” he added.
Meanwhile, Mr Okoh has said that the first phase of construction works would take 36 months and would cover one thousand six hundred kilometres (1600 km), which will cover about 26 states of the federation with the commercial capacities for quick return on investment.
This, he said, will begin from four major cities in the country, including Abuja, Lagos, Port Harcourt, and Kano.
These four cities, according to him, are key to a quick return on investment for the investor.
“You know that the project is for Nigerians, the people, and the return on investment for the country and to the investor before our company, which is the last. So, it is for Nigerians to dream and to believe in themselves that this is possible.”
However, he failed to mention prospective investors shortlisted for the project, with a resolve that such a unique project needs genuine investors with good intentions.
“I am turning away prospective investors because any project that can pay back in midterms attracts so many investors. Initially, our projection was for a 20-year investment plan, but right now it is less than 10 years because if we design the first phase that connects the four major cities of this country, we are only looking for 5 percent of Nigerians who can estimate 10 trips a year. That means you can leave Abuja for Lagos about 10 times in 12 months. Abuja to Port Harcourt 10 times a year. And same to Abuja to Kano. So, if 5 percent of Nigerians can make 10 trips a year at a 100-dollar return ticket, then I can bet you this project will be completed in less than 10 years. So, think about when we increase the connectivity to 10 percent? It will be huge. So, like I said, the return on investment, everything is ready, the country is willing, the government is willing, and everything is working.” he added.