RMB seals $1.8 billion Nigeria-Niger transport corridor deal

RMB Nigeria has completed a landmark $1.8 billion financing arrangement for the development of the Kano-Maradi railway, one of West Africa’s most significant cross-border transport infrastructure projects.

The transaction positions the corporate and investment bank as a key financier of strategic infrastructure aimed at deepening trade links between Nigeria and the Niger Republic while strengthening regional economic integration.

Acting as Global Coordinator and Initial Mandated Lead Arranger, RMB structured the financing package for Nigeria’s Ministry of Finance to support the construction and commissioning of the 374-kilometre railway corridor connecting Kano to Maradi.

Railway project expected to drive trade growth

The Kano-Maradi railway is designed to improve the movement of goods and people across borders, reduce transportation costs and unlock new commercial opportunities across northern Nigeria and neighbouring Niger.

According to Chidi Iwuchukwu, Executive Director and Head of Investment Banking at RMB Nigeria, the transaction demonstrates the bank’s capability to execute complex cross-border infrastructure deals across Africa.

“This pivotal transaction connects regional entities, supporting trade and development in the region,” Iwuchukwu said, noting that RMB deployed expertise across syndications, structured solutions and infrastructure finance to deliver a comprehensive funding package.

The project is expected to enhance regional logistics efficiency, support industrial growth and accelerate economic activity along the transport corridor.

Strategic partnership strengthens infrastructure delivery

Senior Dealmaker and Head of Infrastructure Finance at RMB Nigeria, Enyinna Anumudu, highlighted the importance of engineering partner Mota-Engil Africa, describing the company as a critical stakeholder in the execution of large-scale infrastructure projects across the continent.

RMB also worked closely with Africa Finance Corporation, a major financing partner that supported the transaction over a three-year period. The collaboration underscores growing momentum among African financial institutions to fund transformative infrastructure projects that can drive long-term economic development.

RMB expands role in African infrastructure finance

Based in Lagos, Nigeria,  RMB Nigeria is a subsidiary of FirstRand Group and provides advisory, financing, trading and investment management services to large corporations and institutional investors.

Under the leadership of  Bayo Ajayi, CEO and Managing Director, the bank has continued to expand its presence in infrastructure financing, supporting projects that enhance regional connectivity, trade and economic resilience.

RMB Nigeria has fulfilled the Central Bank of Nigeria’s banking recapitalisation requirement for merchant banks, strengthening its capital base and positioning the lender to support business growth, investment opportunities, and Nigeria’s evolving financial sector reforms.

The Kano-Maradi railway financing marks another milestone in Africa’s infrastructure investment landscape, highlighting the increasing role of private capital and development finance in closing the continent’s transport infrastructure gap.