Stakeholders on land transportation in Nigeria have underscored the need for the Federal Government to open up the railway subsector to allow private investors’ participation.
At a day public hearing organised by the Senate Committee on Land Transportation on the Nigerian Railway Corporation Act repeal and re-enactment Bill 2015 held at the National Assembly Abuja, the stakeholders also harped on the need to consider the Bill alongside the National Transport Commission (NTC) Bill in line with the recommendation of the Bureau of Public Enterprises (BPE) to ensure a regulator for the transport sector.
As contained in a statement signed by Alex Okoh, head, public communications of BPE, after the one-day event, stakeholders who cut across key players in the transport sector, labour, professional and civil society groups, stressed the need to reform the sector by setting up a regulator to monitor its activities.
Senate president, Bukola Saraki noted in his address that the Nigerian Railway Corporation Act Amendment Bill 2015, a private member Bill proposed by Andy Uba, was one of the high priority bills of the National Assembly members were determined to ensure its quick passage.
According to Saraki, “the Nigerian Railway Corporation Act Amendment Bill 2015 is one of the high priority bills of the National Assembly which members are determined to ensure its passage in the manner that will be advised by participants at public hearing.”
He said there was no doubt that the rail system is one of the most important arterial systems of the country’s economy and “therefore a major determinant of the success or otherwise of our economic reform package.”
Saraki said the existing law in the rail subsector was drafted and enacted to support an outmoded model that restricted management and investments in railway to the public sector.
Also speaking, Ben Aigbokhaen, president, Nigerian Economic Summit Group (NESG), said for the proposed Railway Bill to be meaningful and engender private investors’ participation, there was the need for an independent regulator, which the NTC Bill represented. He enjoined the National Assembly to ensure that the Bill was passed concurrently with the NTC Bill.
