As part of the initiative to consolidate the ongoing railway modernization projects consistent with the Renewed Hope Agenda of Presidential Bola Ahmed Tinubu’s Administration, the Minister of Transportation, Senator Said Ahmed Alkali has executed a Memorandum of Understanding (MoU) on behalf of the Federal Ministry of Transportation with Messrs MPH Rail Development (UK) Limited to enable the Company carry out the design, construction, commissioning, operation and transfer of the PortHarcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line on Public – Private Partnership basis.
This memorandum is the first of its kind executed by the Minister in company of the Permanent Secretary of the Ministry, Olufemi Oloruntola, the Director Rail Development, Engr. Zirra Fimbarr, the Director Legal Services, Pius Oteh and the Management of the Company, under Bola Ahmed Tinubu’s administration which prioritises the provision of efficient transportation in its “Renewed Hope” agenda.
The memorandum was executed following the approval Outline Business Case and issuance of compliance certificate by the Infrastructure, Concession and Regulatory Commission (ICRC).
This development will enable the Company to concentrate on preparing relevant documents to support a request for approval of the Federal Executive Council to execute the project.
The documents that are necessarily needed in furtherance of this initiative include comprehensive feasibility studies report, development of full Business Case Study, Environmental and Social Impact Assessment, Production of Resettlement Action Plan, the design of a Financial Model to execute the project and subsequent transfer to the Federal Government on PPP basis subject to 100% funding with no loan or debt for or against the Nigerian government or any of its agencies.
The project represents a landmark achievement for the Tinubu-led administration, which seeks to provide effective, efficient, affordable and sustainable rail transportation in Nigeria.
In his closing remarks during the MoU signing ceremony, the Honourable Minister of Transportation assured the investors of the Ministry’s support to ensure the successful execution of the project. He also urged them to ensure diligent production and submission of all relevant documents that will facilitate the grant of FEC’s approval.
Olujimi Oyetomi
Director, Press and Public Relations
Total Visits: 37Today's Visits: 0All time total visits: 67.4k