The federal government says it is planning to review the national land transportation policy with a view to incorporate public private partnership (PPP) arrangement in the new policy.
Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu who met with his counterpart in the Transportation Ministry, Senator Said Ahmed Alkali, recently in Abuja, said that the most important action that could ensure good results from the policy was to reflect on how to incorporate Public Private Partnership (PPP) arrangement so that the collaboration could generate support from stakeholders.
He said that at the last Federal Executive Council (FEC) meeting, the Renewed Hope Infrastructure Initiative was approved. This, according to him, was designed to ensure that the Council captured some of the elements in the funding arrangement which could reduce the drawback that had affected or limited the implementation of the policies, the development plan, as well as the agenda 2050.
Bagudu commended his counterpart for the laudable policies and projects which he said, were absolutely necessary for the development of the country.
In his earlier brief, the Minister of Transportation Sen. Said Alkali, said the Nigerian Transportation sector was in dire need of a good and workable Policy.
He pointed out that “it is in the realization of this that I inaugurated a technical committee in January, 2024 to review past efforts and develop a sustainable Land Transport Policy framework.”
Alkali said the Policy was focused on the traditional land transport mode of rail and road, which were currently the weakest links in the transport and logistics value chain. However, the Minister said it would serve as a blueprint to build a transportation system that would meet the needs of the people.
He further sought for an embracing consensus on the nation’s land transportation policy that would stand the test of time and advance the vision of Mr. President’s Renewed Hope agenda for Nigeria transportation sector.