Govt to hands off railway, Osinbajo unveils concession committee

The Federal Government has conceded to calls for the country’s economy to be private-sector driven, with the setting up of a 20-member committee for concession of the Nigeria railway services.

This is to be kicked off by the concessioning of the eastern and western lines of the Nigeria Railways with the inauguration of a Steering Committee on Friday.

The Vice President Yemi Osinbajo while inaugurating the committee said government is determined to transform the railway infrastructure with full participation of the private sector.

The main objective of the committee, Osinbajo said, is to create a one-stop shop for fast tracking the concession process and to beat bureaucratic bottlenecks that usually stall government programmes.

Read also: Panic as CBN orders bankers to declare assets

When fully on course, the eastern and western lines of the Nigeria Railways will be the first facility to be taken over by private interests that meet the criteria soon to be made public.

Headed by the Transportation Minister, Mr. Chibuike Rotimi Amaechi, the committee is to add some innovative approach as well as monitor the concessioning process.

Speaking after the inauguration, Amaechi assured all that the committee will deliver as expected.

According to Laolu Akande, the Senior Special Assistant, (Media & Publicity) to the Vice President, the committee’s terms of reference included advising the National Council on Privatisation (NCP) on policy issues that will impact on stakeholders interest and advise the Bureau of Public Enterprises (BPE) on efforts at improving stakeholders relations.

They are also expected to review existing legislations, reports, studies and any other relevant information on the railway sector and provide guidance on policy issues, the economic and financial viability of the project and recommend the level of Federal Government’s investment, among others.

RipplesNigeria …without borders, without fears

Join the conversation


About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.

Do NOT follow this link or you will be banned from the site!