News Investigators/ The Tinubu Media Support Group (TMSG) has welcomed plans by the President Bola Tinubu administration to make Nigeria one of the few African countries to have high-speed train services, saying the mass transit infrastructure will boost the country’s one trillion dollar economy agenda.
The plan follows the recent submission by the consortium of investors of a $60 billion proof of funding for the 4,000 km rail project, which is currently being scrutinised by federal government officials.
In a statement signed by its Chairman, Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG underlined the readiness of the federal administration to open the country to genuine and credible investors.
”For us, it is a credit to Nigeria’s ability to attract investments on the watch of President Bola Tinubu that the De-Sadel-led consortium of investors is prepared to invest a whopping $60 billion to provide a 4,000-kilometre, high-speed rail infrastructure in the country.
”We understand that the first phase, which is expected to cover 1,600 kilometres, will link Lagos-Abuja- Kano and Abuja-Port Harcourt, within a period of 36 months.
”While the promoters are saying that the project will be funded by the Asian Development Investment Bank, one of the largest international development institutions in the world, backed by China, it is good to know that the government is not taking chances.
”We acknowledge that as a result of the huge financial outlay, a government team led by the Secretary to the Government of the Federation, George Akume and two ministers have received on demand for thorough scrutiny proof of funding of the ambitious project.
”This is to enable the government to ascertain the financial readiness of the consortium in line with the provisions of the law guiding Public Private Partnership as enforced by the Infrastructure Concession Regulatory Commission (CRC), which was also present at the meeting with the consortium.
”It is a good development in a country in dire need of modern, fast-moving transport infrastructure, which also aligns with President Tinubu’s practical approach to governance geared towards opening the country to investments from the private sector.
”We have no doubt that once the government completes the necessary due diligence on project financing, and construction work begins, it will create a lot of direct and indirect job opportunities for many Nigerians along the proposed rail corridor.
”There will also be the added advantage of a phase-by-phase construction, which means that the first phase will be open to the public once it is completed.
”We are gratified that the consortium is confident that it has all the funds required for the project but we urge the authorities to ensure that Nigeria and Nigerians are not shortchanged in the consummation of the deal,” the statement added
TMSG also noted that the ongoing interaction is proof of the readiness of the Bola Tinubu administration to partner with genuine private sector players to modernise the country’s infrastructure
