FG moves to boost economy through transportation sector

……plans legislation for multi-modal transport regulator

The Federal Government of Nigeria has expressed plans to exploit the potentials in the transportation sector in an effort to grow the contribution to the country’s Gross National Product (GDP) from a paltry 1.41 per cent to something quite appreciable by the end of 2016.

Minister of Transport and his Aviation counterpart, Hon. Chibuike Amaechi and Senator Hadi Sirika, disclosed this at their maiden press briefing after the tour of the Murtala Muhammed Airport in Lagos on Wednesday admitted that there were challenges including weak airlines and decaying infrastructure but that plans have been drawn up that would bring joy to the air travellers.

Amaechi said that the plans to bring joy to travellers include the completion of all remodelling projects by the end of 2016 as well as the completion of the US$500million terminals currently being conducted by the Chinese.

“The ministry of transportation in collaboration with relevant parastatals and agencies have drawn up short term plans that are currently being implemented of which the traveling public will take notice of the improvements in the not distant future.”

“These plans include the expeditious completion of ongoing airports remodelling projects at Lagos, Abuja, Kano and Port Harcourt and the decongestion of airports access roads among several others.”

“The new terminal in Lagos will generate additional 15 million passengers annually making a total of 30 million passengers yearly nationwide. The medium and long term plans will require significant investments to upgrade and expand infrastructures to meet current and future requirements.”

He also said that because funds were limited for capital projects government is exploring the option of private sector participation.

“As a result of limited resources for capital projects development, government is exploring the possibility of private sector participation to towards the realization of the industries’ potentials.”

In the same vein, the Ministers told the gathering of journalists that President Muhammadu Buhari has has set out plans to thoroughly organize the transport sector via the pursuance of the enactment of legislation that will open up the sector to new investments that will lead to economic prosperity. Adding that government will pursue the bill to establish an independent multi-modal transport regulator for the country.

The duo also said, “Among the bills that is ready for legislative action is the National Transport Commission Bill – an act to provide for the establishment of a National Transport Commission as an independent multi-modal economic regulator and other related matters. This bill among others have been approved by the Federal Executive Council in March 2014.”