Nigeria hires transaction advisors for remodelling rail stations

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Nigeria hires transaction advisors for remodelling rail stations

According to the local press, the Federal Government of Nigeria has hired transaction advisors for remodelling and redeveloping nine railway stations through the PPP model.

Several of the rail stations to be remodeled and redeveloped to connect are Ebute-Meta in Lagos, Ilorin, Kaduna, Kano, Port Harcourt, Enugu, Jos and Gombe.

The Permanent Secretary, Ministry of Transport, Nebolisa Emodi, stated:

"Following the lifting of the embargo on rent and lease of Nigerian railway Corporation's land and landed properties, the redevelopment of the Nigerian railway stations through Public Private Partnership is being processed.

Transaction advisers have been commissioned to drive the process for PPP. Advertisement for the expression of interest is expected to be published in Oct. 2014."

According to Mr Nebolisa, new bills which would allow for more private sector participation were under consideration by the Federal Executive Council.

Mr Nebolisa added that the Federal Executive Council has approved the establishment of six inland deep ports also under the PPP arrangement including Isala-Ngwa in Abia state; Ibadan, Kano, Haipang in Jos, Funtua in Katsina and Maiduguri. He commented:

"We are working seriously to build new seaports in the country because the ports are overstretched particularly Lagos where 60 percent of our cargoes are being handled."

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