The Minister of Transportation, Chief Chibuike Rotimi Amaechi, has hinted that the Federal Government would require 166 billion dollars in the next five years to meet the country’s energy and transport infrastructure needs. Speaking at a public hearing on Monday at the House of Representatives, Abuja, on a Bill for an Act to Repeal the Nigerian Railway Corporation Act. The bill (The National Transport Commission Bill) which was sponsored by Hon. Ncholas Ossai (Delta-PDP), would curb revenue loss of about 30 per cent accrued to the federation, due to non-integration in the transport sector. And also pave way for an Act to provide for the establishment of three national transport commission.
Amaechi disclosed that as part of efforts aimed at ensuring competitiveness, profitability and efficiency, in the sector, the Lagos-kano railway project will be commercialized, following the recent arrangement between the Federal Government and General Electric.
While declaring the public hearing open, the Speaker, House of Representatives, Yakubu Dogara, expressed optimism that if the obsolete Act of the Nigeria Railway Corporation was repealed, there would be a reduction in the damage done to roads by heavy duty trucks and cost of conveying goods would be cheaper.
