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Nairaland Forum / Nairaland / General / Politics / Fg’s Railway Modernisation Plan: Vague And Confused (755 Views)
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Fg’s Railway Modernisation Plan: Vague And Confused by Blue3k(m): 8:12pm On Oct 21, 2017 |
Punch Editorial Board Source: http://punchng.com/fgs-railway-modernisation-plan-vague-and-confused/ Front Page: lalasticlala 1 Like |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by folashade96(f): 8:14pm On Oct 21, 2017 |
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Re: Fg’s Railway Modernisation Plan: Vague And Confused by Blue3k(m): 8:24pm On Oct 21, 2017 |
I agree with the general argument that rail should be liberalized. It's the logical thing to do but government more interested in concession agreements. It's already an undeniable fact the federal government under military rule killed the rail system to begin with. He's half right on the funding considering China already approved loans for a section of rail. The rest Amaechi is scrambling for. The rails trains are painfully slow and narrow gauge needs to go with the way of the dodo. A little side not the Djibouti Ethiopia line was built by Chinese corporation. Hey omohayek an article you'll like. 1 Like |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by Ovamboland(m): 8:52pm On Oct 21, 2017 |
The understanding we have is that the total investment of $36 bn will be financed by Chinese loan with counterpart funding of 15% by the Nigeria government. That's $5.4 bn to be put down before the job can start. |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by omohayek: 9:10pm On Oct 21, 2017 |
Blue3k:You're right, I like it a lot! It's good to see something sensible and based on sound financial reasoning coming from a Nigerian newspaper. It's too bad such excellent advice will be ignored because - as you noted - Nigerian politicians (especially northern politicians) generally hate the idea of privatization, and prefer bogus "concessioning" schemes that allow them to retain the ability to interfere with staff hiring, pricing, contracting, etc., in other words, the very same problems that led to the railways becoming decrepit and unused in the first place! As tempting as it may be to blame Amaechi for not pushing for privatization, the blame here (as with so much else in this government) ultimately goes to Buhari himself, who has never met a privatization proposal he's ever been happy about, no matter how compelling the logic. Remember how early last year Kachikwu suggested the 4 obsolete NNPC refineries be sold off, and the sector deregulated so private investors could come in? Buhari's answer was to order yet more of the same old "turn around maintenance" that has been repeatedly tried in vain since the Babangida era, and predictably enough, this round failed as well! Any guess what the answer still is, going forward? Yes, that's right, even more "turn around maintenance"! I wish I could say it was simply Buhari's economic ignorance and general stupidity that was to blame, but we can't ignore the geopolitics of the issue. Privatization of Nigeria's "national assets" [sic] would mean the end of avenues of patronage that heavily favor northerners, from the elites who get appointed bosses of agencies and parastatals they are manifestly unqualified to run, to the ordinary northerners who are given jobs they would never be hired for under a merit-based system due to "federal character". Northerners will never favor privatization no matter how compelling the economic logic because they fear losing out, just as they will never support abolition of the insane Land Use Act because they see it as "resource control through the back door". 4 Likes |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by Paperwhite(m): 9:39pm On Oct 21, 2017 |
No wonder as even Amaechi said he never really believed that Nigeria got railways even as Minister of Transport. |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by Blue3k(m): 10:54pm On Oct 21, 2017 |
Ovamboland: That sounds pretty good. I didn't know Chinese approved everything. I guess they are also borrowing to finance that part as well. The government going big or bust on these projects. omohayek: Things like this is reason I don't want the government to run these assets. They should save us drama by focusing on taxing and regulations. Then spend the cash to improve education for work force and more infrastructure. Buhari is always the x factor blocking privatizing certain areas. It's good he's not trying to reverse power privatization. Stuff like land use act is weird. They don't benefit from it since it make real estate development more challenging according to people investing. At least they are shifting because of mining taxes. States like Taraba want mining to be in concurrent list. |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by aolawale025: 1:00am On Oct 22, 2017 |
The FG should consider BOOT[Build Own Operate Transfer] with the Chinese. And work out the agreement in a way they have little or no cash exposure. 1 Like |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by meezynetwork(m): 5:26am On Oct 22, 2017 |
Nigeria is still in stone age. Three years has gone and buhari has not down any tangible things apart from increasing the price of PMS. Bad roads everywhere, power sector still the same, railways still how it was. I wonder when he will start working. 1 Like |
Re: Fg’s Railway Modernisation Plan: Vague And Confused by arrhem: 7:07am On Oct 22, 2017 |
APC are bunch of liars. I don't believe any of their talk except I see the work For scholarships, schools admission, visa processing, etc to study in any country visit http://arrhem..com |
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