Nigeria to unbundle state-owned Railway Corporation
By Mike Ochonma
- Committee with private sector Diaspora Nigerians begins work
Nigeria is pushing ahead with its resolve to unbundle its state-owned Railway Corporation with the appointment of members into the unbundling committee and first ministerial committee meeting chaired by Gbemisola Saraki, the minister of state for transportation.
Addressing the members drawn from private and public sectors, the minister stated that, the committee will integrate experience of other countries that have successfully unbundled their railway system in the committee work.
She assures Nigerians that the exercise will be fast tracked through integration of the National Assembly even before the unbundling Bill will reach the legislators.
Gbemisola Saraki reiterated the determination of the federal government towards reforming the railway system to prepare the nation for emerging need for regional connectivity.
The emergence of African Continental Free Trade Area (AfCFTA) compels the need to open up the railway system to allow for necessary private sector investment and expertise.
Citing pressing needs to bridge the infrastructural gap, she noted that, the committee is to tap into the wealth of experience of private sector operators in creating four or more entities out of the present NRC.
Saraki further announced inclusion into the committee of private sector members namely Rowland Ataguba, managing director of London based-Bethelem Rail Infrastructure Limited; Olawale Rasheed, CEO of African Railway Consulting Limited and publisher of Railway Business Magazine, Bernard Obika of Escher Silverman Limited and Marcus Mukoro, chief executive of US-based Reliance Rail International.
Public sector members are drawn from the ministry and other relevant agencies, including the Nigerian Railway Corporation (NRC).
At the maiden meeting, the committee received presentations from Anderson , KPMG and CPCS. The various firms made submission on what they consider ideal structures for the unbundling of the NRC.