The Federal Government is mulling over plans to privatize the Nigerian Transport sector as it has done with the power sector.
Briefing journlists after the weekly Federal Executive Council meeting, the minister of information Labaran Maku, said FEC discussed four bills that will transform the way the transport system is currently working.
The four deliberated bills that is expected to change the operations of the transport sector include: National transport commission bill, Nigerian Ports and Habour bill, Nigerian Railway bill 2014 and the National Inland water ways bill 2014.
Maku noted that this is borne out of the need to open up the transport sector to the public for private participation adding that government could no longer continue to run the sector on its own.
He noted that government cannot continue to fund all sectors of the economy “but to lead the way by deepening reforms and now in the transportation sector. We are trying to take advantage of this period to deepen reforms in the transport sector by bringing on board private sector partnership”.
The minister also said government is preparing an economy for the future, an economy that does not fully rely on the government but on the private sector and it’s participation.
He added that the best way to further improve Nigeria ‘s economy is to create new policies for different sectors of the economy that will drive private sector participation rather than for government to just continue to pour in money or investments.
According to him government intends to involve the private sector in the development of the infrastructure in airports, seaports and waterways.
He noted that government intends to take away the regulatory status from government owned companies in the sector adding that sometimes government bearucracy causes things not to work.
Further to council’s discussion, a committee chaired by the Artoney General of the Federation, Bello Adoke, alongside the minister of Transport, Umar Idris, with participation from key sectors, have been set up to work on been bills and present it to Council for discussion and final approval in the next two weeks.
He noted that all legal bottlenecks and backings needed for the sustainability of the bills will be smoothened out to avoid future policy change.