Federal Government Unveils Path to Bring Private Funds into Transport

By September 28, 2017 Investment News

The federal government has said is creating conducive environment that can attract private capital into all aspects of the transportation sector and value chain.
The Minister said, there are huge opportunities for the private sector to invest in the various aspects of transportation in Nigeria adding that government is committed to providing them all necessary support through the ease of doing business and enabling laws.

The Minister of Transportation, Rotimi Amaechi, disclosed this in Abuja while delivering a keynote address at the maiden edition of the Abuja Transport and Aviation Correspondents Association Seminar. The seminar had the theme: “Forging a resilient Transportation Industry in Nigeria”.

Represented at the event by the Director Press, Federal Ministry of Transportation, Mrs. Yetunde Sonaike, the minister said beyond the ease of doing business initiatives, the legal impediments are being unlocked with the amendment of relevant laws.

“A lot of the legal and regulatory framework instruments of the agencies in the transportation sector were obsolete. Under our watch, the four Transport Sector Reform Bills have undergone various public hearing stages in both chambers of the National Assembly.

The Transport Reform bills include; National Inland waterways Authority Bill 2015, the Nigerian Ports and Harbour Bill 2015; the Nigerian Railways Authority Bill 2015 and the National Transport Commission Bill – an act to provide for the establishment of National Transport Commission as an independent multimodal economic regulator and other related matters.

Also speaking at the event, the Minister of State, Aviation, Sen. Hadi Sirika said several reforms are happening in the aviation sector that private investors can take advantage off.

The Minister who was represented by the Director General NiMet, Prof. Sani Abubakr Mashi said the concessions of the airports, the establishment of the National Carrier, and the establishment of the air craft maintenance repair facility which will all be private sector driven are some of the opportunities that can attract private sector capital into the industry.

He noted that the aviation sector is committed to best practices and government efforts have begun to yield results with the certification of the Murtala Muhammed International Airport Lagos by the Nigerian Civil Aviation Authority (NCAA) adding that more reforms will begin to crystallize soon.
The minister also said with the approval of the federal executive council for the concession of the airports, the planned programme of action will soon be unveiled.

Also commenting the Managing Director, Federal Airports Authority of Nigeria FAAN Engr. Saleh Dunoma, who was represented by the Director, Commercial and Business Development FAAN, Mr. Sadiku Abdulkadir Rafindadi said “the local industry players should pool resources and skills together to attract investors and to set up aircraft maintenance centers, as this would reduce the cost of aircraft maintenance. Local industry players should also get global cooperation in terms of a strategic alliance to pull resources and expertise.”

 

Source: Dailytrust