By Albert Akota
The Minister of Transportation, Mu’azu Jaji Sambo has called for the unbundling of the Nigerian Railway Corporation (NRC), in line with the vision and objectives of Government’s current reforms in the transportation sector.
Sambo noted that as it is presently constituted, the Nigerian railway Corporation (NRC) cannot operate optimally, thus necessary reforms and unbundling have become imperative.
The Minister who was addressing the management team of the Ministry of Finance Incorporated (MOFI), led on a visit to him by the CEO, Dr. Armstrong Takang, charged MOFI to drive the unbundling of the NRC to make it more economically viable while offering world class services to Nigerians.
“One of the things I will like to see as the Minister of Transportation, through MOFI is the unbundling of the Nigerian Railway Corporation (NRC). There is a Committee set up to unbundle NRC and I will urge you to work with the existing Committee”, he said.
The Ministry of Finance Incorporated (MOFI) was incorporated under the provisions of Sections 2 and 3 of the Ministry of Finance Incorporated (MOFI) Act of 1959 as an asset holding company under the Federal Ministry of Finance. MOFI is the sole manager of all Federal Government investment interests, estates, easement and rights.
The Minister, who made reference to the reforms implemented in the ports and the benefits these have brought, noted that such should be carried out in railway sector.
Sambo pointed out that the issue of encroachment on railway property will soon be a thing of the past as “MOFI was berthed for a specific reason and that reason is for the Federal Government to take control of its assets and create optimum value for these assets”.
In his contribution, the Minister of State for Transportation, Prince Ademola Adegoroye, extolled the capabilities of the Managing Director, MOFI, Dr. Armstrong, saying he has full confidence that the MOFI team will deliver on the job.
Also speaking, the Permanent Secretary, Dr. Magdalene Ajani, noted that the MOFI team being made up of young and intelligent people has satisfied the yearning of Nigerians to have young people in positions of responsibility. She assured the MOFI team of the cooperation of the Ministry in their assignment.
Speaking earlier, the Chief Executive Officer, MOFI, Dr. Armstrong Takang, stated that the visit was to discuss how to create a more effective and efficient partnership between MOFI and the Ministry of Transportation.
Takang said the areas that have been identified for collaboration with the Ministry of Transportation included enumerating and valuing the Nigerian Railway Corporation to ensure that its value is captured in line with the current realities.
