Nigerian Railway privatization bill approved

Nigeria RailCorpNigeria’s Federal Executive Council (FEC) approved the Nigerian Railway Authority Bill 2014 to enable private sector participation in running and ownership of rail tracks, empower states and local governments own and operate rail facilities, writes DailyPost Nigeria.
The bill will allow private sector to operate, maintain and build the railway infrastructure (over 3500 km) owned by Nigerian Railway Corporation (NRC).
“The existing laws governing the transport sector are mainly public sector driven and largely constrained by limited autonomy, conflicting and sometimes overlapping functions and so on and so forth. In addition, the laws did not provide for adequate private sector participation. Consequently, new legal and regulatory frameworks are required to support the reform programme,” Presidential spokesman, Reuben Abati said.

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