SEDC to float investment fund for transforming eastern railway

The South-East Development Commission (SEDC) has revealed plans to prioritise railway development across five states in the South-Eastern region through the establishment of an investment fund.Managing Director of the Commission, Mr. Mark Okoye dropped this hint recently during the first formal visit of SEDC management team to Managing Director, Nigerian Railway Corporation (NRC), Dr Kayode Opeifa in Lagos.

According to him, the commission is priotizing railway development across the five Southeast states with an ambitious roadmap to transform the region into Nigeria’s preferred investment destination by 2030. googletag.cmd.



push(function() { googletag.display('div-gpt-ad-1718806029429-0'); }); “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,” Okoye saidHe also highlighted security and investment climate enhancement as immediate priorities, recognizing that economic transformation cannot thrive without a stable environment.

$(document).ready(function(){(adsbygoogle = window.adsbygoogle || []).

push({})}); Okoye noted that successful models, like the Lagos state’s partnership with the NRC, could serve as a blueprint for similar initiatives in the Southeast.On the commission’s first 50 days, Okoye outlined key achievements, including engagements with Senate, House of Representatives, state governors, organised private sector groups, and the diaspora community.He also announced the launch of a volunteer system, which has already attracted over 2,000 sign-ups from Nigerians worldwide who are eager to contribute technical expertise to the region’s development.

Okoye reaffirmed the commission’s commitment to fostering development partnerships and urged NRC to considerSEDC a key stakeholder in its future projects.He pointed out that collaboration with NRC is expected to play a crucial role in the region’s master planning, which includes multi-modal transportation systems, industrial clusters, and agro-processing zones. $(document).

ready(function(){(adsbygoogle = window.adsbygoogle || []).push({})}); The commission, which was inaugurated on February 11, this year has identified five key sectors to drive the region’s economic expansion from $40 billion to $200 billion within ten years.

These sectors include agriculture, industrialization, technology, creative economy, and tourism, with infrastructure serving as the enabling foundation.Addressing management team of the commission, managing director, NRC Dr. Kayode Opeifa observed that NRC has historically been at the heart of Nigeria’s economic growth, tracing it back to the colonial era when the first rail lines were built to facilitate trade and commerce.

According to him, the present government is prioritizing the rehabilitation and expansion of narrow gauge railway networks to enhance mobility, reduce the cost of transporting goods and improve economic productivity.“While Nigeria developed 3,500 kilometres of rail lines in our first 60 years of 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,” Opeifa declaredHe said rehabilitation of the eastern corridor railway line would restore connectivity between key cities in the southeast and other parts of the country. $(document).

ready(function(){(adsbygoogle = window.adsbygoogle || []).push({})}); Regarding concerns on vandalism especially on the eastern corridor, Opeifa stated categorically that railway assets are still much in use and not scrap irons adding that NRC is actively working to reposition outdated infrastructure and improve service delivery.

Ogun seeks alignment with NRC to actualise transport development planPlans to enhance partnership with states in the extension of rail service to the hinterland got a major boost as Ogun State government intends to leverage on the Standard gauge railway network to offer freight service.This formed part of the outcome of a meeting between management of Nigerian Railway Corporation (NRC), and Ogun State government, represented by Commissioner of Transportation Engr Gbenga Dairo, who led top management team from the ministry, on a courtesy visit to the NRC managing director Dr. Kayode Opeifa, at the NRC Headquarters, Ebute Metta, Lagos.

The Commissioner in his rematks highlighted Ogun state’s ambitious rail development plan, emphasizing the state’s commitment to integrating rail transportation as a core component of its infrastructural strategy under the ISEYA development framework.He underscored the willingness and readiness of the state to align its transportation goals with the Renewed Hope Infrastructure Development Plan of President Bola Ahmed Tinubu, with the NRC playing a key role in driving the vision. $(document).

ready(function(){(adsbygoogle = window.adsbygoogle || []).push({})}); “A significant aspect of the plan revolved around Ogun state’s long-term objective of leveraging on standard gauge rail to enhance movement of goods,” Dairo said.

The Commissioner stressed that the state government envisioned a rail system that will facilitate seamless cargo shipments from Ogun to various parts of the country, boosting commerce, trade, industrialization, and fostering greater economic integration.Earlier, director of transport policy and coordination, Engr. Tosin Akinleye, presented the “Ogun State Transport Initiatives Activities”, aimed at maximizing integrated transport initiatives across the state.

He said the state has developed a master plan to take the Blue Line from Okokomaiko to Agbara, Lusada industrial axis, while the Red Line, would be taken from Agbado to Ijoko and to Kajola, where the government is already constructing Inland Dry Port (IDP).Akinleye also disclosed that plans are in place to take the proposed Purple train that would land at the Redeemed Camp from Ojo, to the Remo Aerotropolis.Managing director, NRC, Dr.

Kayode Opeifa in his remarks commended Ogun state ministry of transportation for its foresight and strategic alignment with the Federal government’s infrastructural development agenda. $(document).ready(function(){(adsbygoogle = window.

adsbygoogle || []).push({})}); He however enjoined the state to key into NRC’s “Rail in the State” initiative, an ongoing programme in which the corporation seeks to support state governments in developing capacity to develop and manage viable rail transportation networks.According to him, the initiative is gaining momentum with Plateau state, set to launch its rail integration in the coming days, while Bauchi and Borno States are also in advanced discussions on their rail projectsThe NRC boss, urged Ogun state government to explore and optimize the existing narrow gauge corridor within its territory in addition to its extensive plan to further connect all the rail initiatives coming from the Lagos state government, such as the Blue and Red Lines further into various parts of the state for more connectivity and to lay a solid foundation for a fully standardized and robust rail network.

He assured of the Nigerian Railway Corporation’s commitment to providing full technical and operational support to the government in positioning Ogun state as a model for rail-driven economic transformation.“We can assure you that whatever you need we can give you at no cost because it is in the national interest that all states which has train network commence commercial operation just as Lagos State is doing“By working closely with the Ogun state government, the NRC aims to create an efficient and sustainable rail system that will ease transportation, boost economic activities, and improve the overall quality of life for her people,” Opeifa said. $(document).

ready(function(){(adsbygoogle = window.adsbygoogle || []).push({})}); Lagos engages stakeholders on plans to extend rail line to hinterlandIn a proactive approach towards seeking the buy-in of stakeholders along the 57 kilometres purple line from Redemption Camp to Volkswagen, the Lagos State government through Lagos Metropolitan Area Transport Authority (LAMATA) recently organised a two-day workshop with focus on environmental and community considerations.

The workshop, conducted in accordance with Environmental and Social Impact Assessment (ESIA) standards, saw participants including representatives from Federal and state ministries of environment, as well as local government officials, community development Committees (CDCs) and community development associations (CDAs).Others include: stakeholders from Agege, Ikeja, Ifako-Ijaiye Local Government Areas and Ojodu and Orile Agege Local Council Development Area.Officials of LAMATA including: head of corporate communication, Mr.

Kolawole Ojelabi, Mr. Dipo Quadri, Mrs. Ibironke Omorhirhi and Architect Dipo Oshobu and consultant, Dr Babatunde Osho of Global Impact environmental consulting limited presented the project’s details, outlining the plan for an integrated multimodal transport system in Lagos.

While the project received enthusiastic support from the grassroots participants, they emphasized the importance of continued engagement with CDC and CDAs, security agencies, and traffic management authorities. $(document).ready(function(){(adsbygoogle = window.

adsbygoogle || []).push({})}); This collaborative approach aims to proactively address potential challenges and ensure smooth project implementation, minimizing disruption and maximizing benefits for the communities along the rail line’s corridor.The Purple rail line, covers 11 local government areas (nine in Lagos and two in Ogun State), will feature 17 stations, utilizing elevated and at-grade level tracks.

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