The Federal Government would require 166 billion dollars in the next five years to meet the country’s energy and transport infrastructure needs, the Minister of Transportation, Mr Rotimi Amaechi, said.



The minister made the disclosure at a public hearing in the House of Representatives on a Bill for an Act to Repeal the Nigerian Railway Corporation Act on Monday in Abuja.

The hearing also focused on a bill for an Act to provide for the establishment of three national transport commission.

Amaechi revealed that the Federal Government and General Electric had concluded arrangements for the commercialisation of the Lagos-Kano railway project.

He explained that the measure was intended to guarantee efficiency, competitiveness and profitability in the sector.

While declaring the public hearing open, Yakubu Dogara, the Speaker, House of Representatives, expressed optimism that if the obsolete Act of the Nigeria Railway Corporation was repealed, Nigerians would enjoy cheaper means of transporting their goods.

He said Nigerians would also enjoy quality services and the incessant damage to roads by heavy duty trucks would be reduced.

The sponsor of the National Transport Commission Bill, Rep. Ncholas Ossai (Delta-PDP), said that the bill would curb revenue loss of about 30 per cent accrued to the federation.

According to him, the loss is due to non-integration in the transport sector.

ZUBY77:
You can begin to tell us where you kept all the money you stole in Rivers State. Who knows, we might even have some balance after using the $166bn

When Federal Government wanted to save money during Jonathan, you, Fashola and Oshiomole went to court to stop them.
You campaigned for money to be shared.
Now you have shifted from State to Federal government and all of a sudden, its Federal government that requires all the money in Africa.

kcmichael:
Some people here are mentally deranged,if u feel ameachi stole Money Take him to Court,even wike couldnt do that they just want to tarnish his image.Whom God has lifted cannot be brought down.wailers will continue to wail till 2023.oya start wailing 1...2...go...


Lolzzzzz

worksmart:
If Obasanjo would only return his loot, we would have no problems getting the needed $166bn