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Our goal is to develop a seamless business climate across all five states in the region
Dr. Kayode Opeifa, the Managing Director and Chief Executive Officer of the Nigerian Railway Corporation (NRC), has brought attention to the significant part that the South-East Development Commission (SEDC) plays in the goal of the Federal Government to restore, extend, and optimize the railway infrastructure of the country.
During a working visit to the NRC Headquarters in Lagos yesterday, he made these remarks. The tour was led by the leadership of the SEDC.
It was the first time that the Nigerian Railway Corporation (NRC) had entered into a formal engagement with any of the regional commissions that President Bola Tinubu had established as part of his attempts to ensure that all zones in the country were developed in an equal manner.
According to Opeifa, the visit by the Southwest Director on the Commission, Mrs. Adejoke Adebayo Chukwumah, and the Managing Director of the Southeast Development Commission, Mr. Mark Okoye, highlighted the importance that the SEDC placed on the development of rail infrastructure in the region.
He traced the origins of the Nigerian Railway Corporation (NRC) to the colonial era, when the first rail lines were constructed to enable trade and commerce. He stated that the NRC has been at the center of Nigeria’s economic progress throughout its history.
According to Mr. Opeifa, the government is putting a premium on repairing and expanding narrow gauge railway networks in order to boost economic productivity, decrease transportation costs, and increase mobility.
He said, “While Nigeria developed 3,500 kilometres of rail lines in our first 60 years post independence, the Federal Government successfully constructed over 1,000 kilometres of new or refurbished rail lines in the past decade, marking a significant milestone in railway development.
“Revitalising the railway sector will lead to a significant reduction in the cost of goods, benefiting businesses and consumers alike.
“Rehabilitation of the eastern corridor railway line will restore connectivity between key cities in the southeast and other parts of the country.”
In response to the widespread fears of vandalism along the Eastern Corridor in particular, he stressed that the railway’s assets were far from useless.
He assured the public that the NRC was making great strides to upgrade service delivery and reuse ageing infrastructure.
During his speech, Mr. Okoye laid forth a bold plan to make the area the top investment destination in Nigeria by 2030.
Okoye also said that the commission was prioritising railway development across five states in the South-East.
“Our goal is to develop a seamless business climate across all five states in the region. We want consistency in ease of doing business policies, laws, and investment regulations to attract both domestic and international investors.
“The commission intends to establish an investment fund driven through an investment corporation to finance long-term projects, ensuring financial independence within a decade.”
He stated that the partnership with the National Research Council would be of great importance in the master planning of the region, which would entail the establishment of multi-modal transportation systems, industrial clusters, and agro-processing zones.
Mr. Okoye stated that successful models, such as the partnership between Lagos State and the NRC, will serve as a roadmap for efforts of a similar nature in the South-East.
Mr. Okoye emphasized the commission’s commitment to developing development partnerships and urged the Nigerian Railway Corporation to take SEDC into consideration as a vital stakeholder in its future projects.