Nigeria’s National Assembly is is in the process of opening up Nigeria Railway Corporation to private investors by reviewing laws that will make it operate in accordance with global world practices the Chairman of the Senate Committee on Land Transport, Olugbenga Ashafa, said.
By looking towards breaking the monopoly of Nigeria Railway Corporation, it was only in the aspect of rail transport activities, that it will retain its regulatory status, he said.
The Nigeria Railway Corporation Act of 1955 which was amended in 1990 is still inadequate, in terms of attract private investors into railway transport and it needs to be revised.
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