The Nigerian government has handed a six-week timeline to the newly inaugurated Inter-agency Committee for the evaluation and assessment of the proposed Integrated Gas, Power and High-Speed Rail Project to hand over its findings and recommendations.
The rail project, set to be assessed spans about 4,000 kilometers across the country and is expected to gulp $200bn.
Secretary to the Government of the Federation, George Akume, who gave the task on Thursday while inaugurating the committee in Abuja said the time frame was in line with the federal government’s commitments to timely and efficient decision-making.
Highlighting its economic importance across all sectors, Akume said the project serves as a catalyst for industrial growth, job creation, and energy security in the country.
He said,“This committee is carefully constituted to ensure a comprehensive and objective evaluation. It aligns with our national priorities of economic growth, energy sufficiency and modern transport infrastructure.
Therefore, you are expected to submit your findings and recommendations within six weeks, in line with the Federal Government’s commitment to timely and efficient decision-making.”
Also speaking, Samuel Uko, the Chief Executive Officer of De-Sadel Nigeria Limited, the Project promoting firm disclosed the financing model for the project, noting that its integrated nature would reduce logistics costs, improve power supply to industrial clusters, and open up new corridors for trade and investment, thereby strengthening Nigeria’s position as a regional economic hub.
According to him, the project is backed by proof of funds and designed to leverage private capital to deliver sustainable infrastructure without imposing undue fiscal pressure on government resources.
Meanwhile the Committee has a Director in the Office of the Permanent Secretary (Political and Economic Affairs) as a chairman with representatives from key MDAs including the CBN, NNPCL, DMO, NCC, Federal Ministry of Transport, Infrastructure and Concession Regulatory Commission, Nigerian Electricity Regulatory Commission, Federal Ministry of Petroleum Resources ( Oil and Gas) among others as members.
High-speed rail project: FG gives committee 6 weeks timeline to submit recommendations
High-speed rail project: FG gives committee 6 weeks timeline to submit recommendations
