The Minister of Transportation, Mu'azu Jaji Sambo has called for the unbundling of the Nigerian Railway Corporation (NRC) in line with the vision and objectives of the Government's current reforms.
The Minister said as it is presently constituted, the Nigerian Railway Corporation (NRC) cannot operate optimally, thus necessary reforms and unbundling have become imperative.
The Minister, who was addressing the management team of the Ministry of Finance Incorporated (MOFI), led on a visit to him by the CEO, Dr Armstrong katang, charged MOFI to drive the unbundling of the NRC to make it more economically viable while offering world-class services to Nigerians.
The Ministry of Finance Incorporated (MOFI) was incorporated under the provisions of Sections 2 and 3 of the Act of 1959 as an asset holding company under the Federal Ministry of Finance. MOFI is the sole manager of all Federal Government investment interests, estates, easements and rights.
The Minister made reference to the reforms implemented in the ports and the benefits these have brought, noting that such should be carried out in the railway sector.
Sambo pointed out that the issue of encroachment on railway property will soon be a thing of the past as MOFI was berthed so as to allow Federal Government to take control of its assets and create optimum value for these assets.
Speaking earlier, the Chief Executive Officer, MOFI, Dr. Armstrong Katang, stated that the visit was to discuss how to create a more effective and efficient partnership between MOFI and the Ministry of Transportation.
Katang said the areas that have been identified for collaboration with the Ministry of Transportation included enumerating and valuing the Nigerian Railway Corporation to ensure that its value is captured in line with the current realities.