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FG to allow private investment in railway Vice President Namadi Sambo says colonial restrictive laws will be reviewed to allow this – Daily Times

The federal government will soon reverse some of the colonial laws especially in the transport sector, to allow the participation of the private sector in especially the railway sector.Vice President Namadi Sambo, who is also the Chairman of the National Council on Privatisation, said this on Monday while speaking at the first meeting of the Council for the year 2012 in Abuja.

He also reiterated the federal government’s plan to reduce its number of agencies. “The policy of government is to reduce the agencies and commissions because of cost,” he said.The National Council on Privatisation also approved, among others, that state governments through an agreement with the relevant distribution companies be allowed to increase access to electricity to their citizens but not to play any role in the management of the privatised successor companies.

It stated that in accordance with the Independent Electricity Distribution Network regulation to be enacted by the Nigerian Electricity Regulatory Commission, a state that desires to build independent distribution networks within areas of its state not currently served within each distribution franchise area could do so.Council also approved that ‘Guided Liquidation’ be adopted as the strategy for the privatisation of NITEL/Mtel in view of the huge liabilities of both companies and the fact that there was no viable financial alternative presented by the management of the companies.Concerning government’s investment in the Royal Swaziland Sugar Company,

Sambo said government should continue to invest if there is good return on investment but more important would be to develop our indigenous sugar companies.

About TransformationWatch

TransformationWatch is an online news site founded by Henry Omoregie It is focused on keeping tabs on the Transformation Agenda set out by the Nigerian leadership in the Local, State and Federal Governments. My mission is to observe, analyze and report milestones or slowdowns in promised service delivery in all the facets of governance in Nigeria (2011 and beyond). Readership is open to all Nigerians and friends of Nigeria alike, regardless of Tribe, Religion or Political divide. We are all in this together


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