FG needs $166b to address transport, energy sectors – Amaechi

The Federal Government would require $166 billion in the next five years to meet the country’s energy and transport infrastructure needs, the Minister of Transportation, Rotimi Amaechi, has said.

The minister made the disclosure at a public hearing in the House of Representatives on a Bill for an Act to Repeal the Nigerian Railway Corporation Act on Monday in Abuja.

The hearing also focused on a bill for an Act to provide for the establishment of three national transport commission.

Amaechi revealed that the Federal Government and General Electric had concluded arrangements for the commercialisation of the Lagos-Kano railway project.

He explained that the measure was intended to guarantee efficiency,  competitiveness and profitability in the sector.

While declaring the public hearing open, Yakubu Dogara, the Speaker of the House of Representatives, expressed optimism that if the obsolete Act of the Nigeria Railway Corporation was repealed, Nigerians would enjoy cheaper means of transporting their goods.

Dogara said Nigerians would also enjoy quality services and the incessant damage to roads by heavy duty trucks would be reduced.

The sponsor of the National Transport Commission Bill, Rep. Ncholas Ossai (Delta-PDP), said the bill would curb revenue loss of about 30 per cent accrued to the federation.

According to Ossai, the loss is due to non-integration in the transport sector.

NAN.