Nigeria News

NIGERIA: FG to Privatise Transport Sector

The federal government Wednesday disclosed plans to privatise the transport sector.
Minister of Information, Labaram Maku made the position of the federal government on the sector known, while briefing State House correspondents, shortly after the weekly Federal Executive Council (FEC) meeting.
According to him, four bills aimed at transforming the sector were discussed at the meeting.
Maku said the four bills that were deliberated on, were expected to change the operations of the transport sector.
He listed the bills as National Transport Commission Bill, Nigerian Ports and Harbour Bill, Nigerian Railway Bill 2014 and the National Inland Waterways Bill 2014.
He said the decision was as a result of the need to open up the transport sector to the public for private participation, noting that government could no longer continue to run the sector on its own.
“To lead the way by deepening reforms and now in the transportation sector we are trying to take advantage of this period to deepen reforms in the transport sector by bringing on board private sector partnership” Maku said.
He said government was working on economy for the future, which would not fully rely on the government, but on the private sector and it’s participation.
According to Maku, the best way to further improve Nigeria’s economy, was to create new policies for different sectors of the economy that will drive private sector participation rather than for government to just continue to pour in money on investments.
He explained that government would involve the private sector in the development of the infrastructure in airports, seaports and waterways.
The minister further noted that government intended taking away the regulatory status from government-owned companies in the sector, observing that sometimes government bureaucracy prevents things from working.
“Further to the council’s discussion, a committee chaired by the Attorney General of the Federation, Bello Adoke, alongside the Minister of Transport, Umar Idris, with participation from key sectors, have been set up to work on the bills and present them to council for discussion and final approval in the next two weeks,” Maku added.
He further disclosed that all legal bottlenecks and backing needed for the sustainability of the bills would be sorted out, with a view to avoiding future policy change.

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