Experts to converge on Abuja over transport infrastructure

Stakeholders in the transport sector have concluded plans to meet in Abuja to deliberate on ways to improve infrastructure in the rail subsector. The summit, tagged Infrastructure Dialogue, is scheduled to hold on February 20, and will bring together 11 countries with advanced railway technology, including China and India. Briefing newsmen on the summit in […]

Stakeholders in the transport sector have concluded plans to meet in Abuja to deliberate on ways to improve infrastructure in the rail subsector.

The summit, tagged Infrastructure Dialogue, is scheduled to hold on February 20, and will bring together 11 countries with advanced railway technology, including China and India.

Briefing newsmen on the summit in Abuja yesterday, the Managing Partner of  a global infrastructure service provider, TTL Group, Dr Onuoha Nnachi, said modern railway infrastructure would stimulate growth in the Nigerian economy, hence the summit would explore ways to bridge funding gaps for the development of the subsector.

Nnachi said the dialogue would also focus on the advancement of technology in the railway industry as well as the regulatory and policy framework, which he considers out-dated.

He stressed that there was need to update the Railway Act that was established in 1955, but is still in use.

“The projected investment in railway and transport is $775 billion, representing 25 per cent of the total. The regulatory act that was enacted in the 1950s is still being used to do business in 2020,” he said.

The Director, Transportation and Infrastructure Department, Infrastructure Concession Regulatory Commission (ICRC), Emmanuel Onwodi, who said the summit is coming at the right time, stressed that at the end of the dialogue, two committees would be set up to drive the agenda and ensure more local content in railway operations in the country.