The Nigerian Government is implementing multi-modal transport system and revitalizing program as well as huge transport infrastructure investment across the country to change the trajectory of the transportation sector in Nigeria.
The Nigerian Minister of Transportation, Mr Rotimi Amaechi stated this at a 2-day National Conference on Transportation Infrastructure Development Financing in Nigeria organized by the Nigerian Institute of Transport Technology (NITT) and the Federal Ministry of Transportation themed: “Sustainable Funding for Transport Infrastructure Development in Nigeria” in Abuja, the capital city.
The Minister noted that “adequate transportation infrastructure is an indispensable facilitator of economic diversification and a trigger of a country’s economic progress”.
He said these interventions by the Federal Ministry of Transportation include massive construction of roads, rail lines with access roads, inland water ports, seaports, new terminals in existing ports, dry ports with access to rail and roads, inland container depots/freights all geared towards building a modern and efficient transportation system that guarantees sustainable socio-economic development of Nigeria.
Amaechi added that “also of relevance is the development of adequate manpower to ensure efficiency and Sustainability of the transportation sector”.
The Minister said “government keeps clamouring for private sector Investment, joint venture financing, and other financing strategies to ease government expenditure. To this end, various methods have been devised in financing transport infrastructures. These include: user charges, taxation, appropriation, concession through Build Operate and Transfer (BOT), Build, Own, Operate and Transfer (BOOT), among other privatization methods”.
“I am also aware that financing and investment strategies have also been incorporated in the Draft National Transport Policy currently being reviewed for the development of the modes of Transportation particularly the Road subsector”.
He urged the team of experts and participants to come up with strategies and a sustainable financing framework for the development of the Nation’s Transport Infrastructure – Nigerian Institute of Transport Technology (NITT).
Nneka Ukachukwu
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