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Funding challenge crippling railway sector – Minister

The federal government has said access to funds is the major challenge crippling the development of the railway sector. Speaking at the second international railway…

The federal government has said access to funds is the major challenge crippling the development of the railway sector.

Speaking at the second international railway conference organised by the Abuja Chamber of Commerce and Industry (ACCI), yesterday in Abuja, the Minister of Transportation, Mu’azu Jaji Sambo, said government is critically in need of private investor’s funds, either in the form of direct foreign or focal investment on a PPP basis or through concessionary or commercial loans.

While stating that it is fully committed to developing the railway transportation sector to provide alternatives and complement other modes of transportation, he said railway is practically the commonwealth of the masses as it provides the most important linkage in an intermodal transportation system.

On his part, the President of ACCI, Al-Mujtaba Abubakar, said the conference seeks to ignite conversation around the development of the railway system in Africa and how Africa can power continental free trade with a sustainable railway development agenda.

“As you all know, the state of railway development in Africa demands an urgent meeting of all critical stakeholders to brainstorm on fast-tracking rail connectivity to meet the demands of the African Continental Free Trade Area (AfCFTA).”

 

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