FG approves transaction adviser on rail concessioning

The Federal Executive Council (FEC) on Wednesday  approved the appointment of transaction advisers to negotiate with General Electric (GE) on railline  concessioning.
 Speaking at the end of the meeting presided over by President Muhammadu Buhari, Minister of Transport, Rotimi Amaechi,:“For the transport sector, I’m sure you are aware of an attempt to concession the Railway to General Electric (GE). Council approved the advisers that would sit with GE as our experts to negotiate”.
He added: “The narrow gauge railway will assist the agriculture, mines and steel development ministries in the transportation of extracted minerals. We are rehabilitating at no cost to government the Port Harcourt-Maiduguri route, which includes Port Harcourt-Aba, Umuahia-Enugu, Makurdi-Jos, Gombe-Bauchi-Borno.
“Then Lagos to Kano will include Lagos-Abeokuta- Ibadan,  Ilorin-Kano, Funtua-Zaria and to Kaura Namoda. WE are rehabilitating all of them.
“It is essentially  to encourage freight movement. We have over 30 million worth of freight on the Lagos-Kano route for which presently we are moving slightly above 100 tonnes. While the Port Harcourt to Maiduguri route is currently moving nothing, but we are anticipating 11 million tonnes that can be moved from Port Harcourt to Maiduguri.”