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    MarketForces Africa » MarketForces News » Private Sector Key to Effective Rail Transport – NRC

    Private Sector Key to Effective Rail Transport – NRC

    Olu AnisereBy Olu AnisereAugust 9, 2024 News No Comments2 Mins Read
    Private Sector Key to Effective Rail Transport – NRC
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    Private Sector Key to Effective Rail Transport – NRC

    The Nigerian Railway Corporation (NRC) has emphasised the crucial role of the private sector in revitalising rail transportation in Nigeria.

    The Director Operations and Commercial Services, NRC, Mr Akinwunmi Osinowo, said this at the joint sensitisation between the NRC and the Nigeria Customs Service (NCS) on Friday in Lagos.

    He said that public-private partnerships were essential for unlocking the full potential of rail freight and decongesting Nigerian ports.

    He highlighted the government’s commitment to creating a conducive environment for private sector investment in the transport sector through favourable policies and budgetary allocations.

    To enhance the attractiveness of rail transportation to shippers, he added that the government was focusing on improving service quality and efficiency.

    Osinowo stressed the need for strategic logistics platforms, such as Inland Container Depots (ICDs), to facilitate seamless cargo movement from ports to inland destinations.

    “Effective cargo freight must ensure profitability for operators and justify the huge investments of government in the sector,” he said.

    Also, comptroller Deran Nnadi, Customs Area Controller, Tincan Island Ports Customs underscored the NCS’s role in facilitating cargo evacuation through efficient customs clearance processes and security.

    Nnadi made a presentation tagged,  “The Roles of Nigeria Customs Service in the Evacuation of Cargoes from Seaport to the Hinterland”.

    He emphasised the importance of collaboration among all stakeholders involved in the logistics chain. #Private Sector Key to Effective Rail Transport – NRC

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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