Senate Passes Nigerian Railway Corporation Bill, 2016
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| Senator Gbenga Ashafa (Chairman, Senate Committee on Land Transport) |
The Senate on Thursday,
July 21, 2016, passed the Nigerian Railway Corporation Bill 2016 seeking to
replace the 61 year old obsolete Nigerian Railway Corporation Act, 1955. The
Bill sailed through third reading after a very rigorous exercise; and hopes to
revitalize the Railway sector for optimal development and conform to modern
trends and challenges.
July 21, 2016, passed the Nigerian Railway Corporation Bill 2016 seeking to
replace the 61 year old obsolete Nigerian Railway Corporation Act, 1955. The
Bill sailed through third reading after a very rigorous exercise; and hopes to
revitalize the Railway sector for optimal development and conform to modern
trends and challenges.
The Nigerian Railway
Corporation Repeal and Reenactment Bill 2015, was sponsored by Senator Andy Uba.
The Chairman of the Senate Committee on Land Transport, Senator Gbenga Ashafa and
other members held interactive sessions with the Ministry of Transport and the
Nigerian Railway Corporation to evaluate the challenges facing the rail sector
including a public hearing.
Corporation Repeal and Reenactment Bill 2015, was sponsored by Senator Andy Uba.
The Chairman of the Senate Committee on Land Transport, Senator Gbenga Ashafa and
other members held interactive sessions with the Ministry of Transport and the
Nigerian Railway Corporation to evaluate the challenges facing the rail sector
including a public hearing.
A crucial reform which the
bill is presenting is the necessary inclusion of Public Private Partnership
(PPP) Initiatives in the Nigerian Railway Sector. The bill also separates the
regulator from the operators. It is Hoped that introduction of the Bill will
drive the needed economic reform in the industry and provide private investment
opportunities for the sector.
bill is presenting is the necessary inclusion of Public Private Partnership
(PPP) Initiatives in the Nigerian Railway Sector. The bill also separates the
regulator from the operators. It is Hoped that introduction of the Bill will
drive the needed economic reform in the industry and provide private investment
opportunities for the sector.