House of Representatives, yesterday, moved to revive rail transport to enable industrial and other economic activities thrive in the country.
The move was due to the hardship being faced by the masses as a result of the recent hike in the price of petrol and electricity by the federal government.
This was the outcome of a public hearing organised by the House Committee on Land Tranport on two bills.
The bills are: ‘A Bill for an Act to Repeal the Nigeria Railway Corporation Act LFN 2004 and Enact the Nigeria Railway Act to Provide for the Regulation of the Railway Sector and for Other Related Matters’ and ‘a Bill for an Act for the Establishment of the National Transport Commission as an Independent Multi-Modal Economic Regulator of the Transport Industry and for Other Related Matters’.
Sponsor of the bill, Ossai Nicholas Ossai, said the bill is important in view of the recent happenings in the transport sector.
The lawmaker hinted that 30 percent of the nation’s Gross Domestic Product, GDP, is lost due to non-integration of the transport sector by the government.
Minister of Transport, Mr Rotimi Ameachi, told journalists that a proper regulation of the transport sector by government would attract huge revenue to its coffers.
Amaechi said when enacted into law, the bill would enhance private sector participation in the transport industry.
According to him, “The proposed commission when established willl give the minister of transport power to declare the industry a regulated one and this will bring the cost of transportation down.
“A National Transport Commision would ensure the full implementation of government’s economic regulatory policies which is capable of generating the needed revenue for transport infrastructure in Nigeria.”
Earlier in his opening speech, Speaker Yakubu Dogara said rail transport is the strong base of industrial activities in both developed and developing countries.
He stated that with a regulated transport sector, Nigerians would enjoy cheaper means of transporting goods and raw materials.

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